Tim Petrillo & Alan Hooper Secure $20.5 Million Refinance Loan For Mixed-use Property In Delray Beach

The property involved in this transaction is a mixed-use asset located at 290 East Atlantic Avenue in Delray Beach. It spans a total square footage of 27,124 and has a loan amount of $20,500,000. The transaction is categorized as a refinance loan with cash out, structured as a five-year, fixed-rate full-term interest-only loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $20,500,000
• Address: 290 East Atlantic Avenue
• Market: Delray Beach
• Lender: LoanCore
• Landlord: Tim Petrillo & Alan Hooper - Urban Street Development
• Brokers: Brad Williamson, Mitch Sinberg, Matthew Robbins, Scott Wadler & Kyle Ryan - Berkadia
• Loan Terms: Cash out refinance with five year, fixed rate full-term interest only loan

The deal features key players including the landlords, Tim Petrillo and Alan Hooper, who are affiliated with Urban Street Development. The brokers representing this transaction are Brad Williamson, Mitch Sinberg, Matthew Robbins, Scott Wadler, and Kyle Ryan, all from Berkadia, highlighting the collaborative effort in securing the financing for this property.