FINANCEDMixed-use
Pebb Capital Secures $173M Construction Loan For Mixed-Use Project Delray Beach, FL
22 West Atlantic Avenue
$173,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 22, 2023
About this deal
AI
The loan for the property located at 22 West Atlantic Avenue in Delray Beach, FL has been finalized. The mixed-use asset, developed by Pebb Capital, secured a construction loan for a total of $173,000,000. The loan was provided by Monroe Capital and J.P Morgan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $173,000,000
- Date: 12/22/2023
- Address: 22 West Atlantic Avenue
- Market: Delray Beach, FL
- Developer: Pebb Capital
- Lender: Monroe Capital & J.P Morgan
Jason Krane, Simon Ziff, Todd Rosenberg, Todd Benson, Jason Starr, and Kyle Asher were involved in the loan transaction for the property.
Players
Monroe CapitalLender
J.P. Morgan ChaseLender
Delray Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93