Tricera Capital Secures $50.8M Loan For West Palm Beach Mixed-Use Property
2751 South Dixie Highway, West Palm Beach, FL, USA
$50,800,000
$183/SF
Building Size
276,600 SF
Asset Type
Mixed-use
Closing
Apr 15, 2021
About this deal
AI
A loan of $50,800,000 was secured for the mixed-use property located at 2751 South Dixie Highway in West Palm Beach. The property spans 11 acres and is owned by Tricera Capital, represented by Ben Mandell and Scott Sherman. The loan was provided by Monroe Capital. The transaction took place on April 16, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $50,800,000
- Address: 2751 South Dixie Highway
- Market: West Palm Beach
- Landlord: Tricera Capital - Ben Mandell & Scott Sherman
- Borrower: Not mentioned
- Lender: Monroe Capital
- Brokers: Jason Krane & Simon Ziff - Ackman-Ziff Real Estate Group
- Acres: 11
The deal involves several key players. Tricera Capital, led by Ben Mandell and Scott Sherman, acted as the landlord. Monroe Capital provided the loan amount of $50,800,000. The transaction was facilitated by brokers Jason Krane and Simon Ziff from Ackman-Ziff Real Estate Group.
On the Map
$50,800,000
$183/SF
Mixed-use
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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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93