SC Carter Secures $4.125M Refinance Loan For 55-Unit Mixed-Use Asset In West Palm Beach

The property involved in this transaction is a mixed-use asset located at 2320 N Dixie Highway in West Palm Beach. It comprises 55 units and offers a total square footage of 16,111. The loan amount secured for this refinance is $4,125,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,125,000
• Loan Type: Refinance
• Loan Terms: SOFR + 285, 18-months I/O, Prepay of 1% for 1 yr none thereafter
• Lender: Local Community Bank
• Landlord: SC Carter
• Broker: Michael Gefter - Wolf Investment Partners

This refinancing deal was facilitated by Michael Gefter, who serves as a Managing Partner at Wolf Investment Partners. The firm is currently interested in funding bridge financing for various types of real estate projects, including residential investment and ground-up construction in multiple states.