SC Carter Secures $4.125M Refinance Loan For 55-Unit Mixed-Use Asset In West Palm Beach
2320 Dixie Highway
$4,125,000
$256/SF
Building Size
16,111 SF
Asset Type
Mixed-use
Closing
May 27, 2025
AI
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.
Players
West Palm Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.85%
Cash-on-Cash
-1.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93