Pebb Capital Secures $173M Construction Loan For Mixed-Use Project Delray Beach, FL
FINANCED
$173,000,000
Florida
See Similar DealsMixed-use
Financed 12/22/2023
FINANCED
Pebb Capital Secures $173M Construction Loan For Mixed-Use Project Delray Beach, FL
22 West Atlantic Avenue
See Similar DealsMixed-use
Financed 12/22/2023
Summary
FLORIDA
Asset Type:Mixed-use
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$173,000,000.00
Monthly NOI$1,153,333.33
Monthly Debt Service$1,093,477.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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