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Dermot Company Secures $110 Million Acquisition Loan From Affinius Capital For 340-Unit Complex

Property Image
FINANCED
$110,000,000
Dustin Stolly
Michael Ianno
Aaron Appel
+ 2

Florida

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MultiFamily
Financed 02/27/2026
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Property Image
FINANCED

Dermot Company Secures $110 Million Acquisition Loan From Affinius Capital For 340-Unit Complex

10000 S Gardens Dr

See Similar Deals
MultiFamily
Financed 02/27/2026
Dustin Stolly
Michael Ianno
Aaron Appel
+ 2
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The Quaye at Palm Beach Gardens is a 340-unit Class-A multifamily complex located at 10000 South Gardens Drive in the Palm Beach Gardens market. The property was acquired for $131.8 million, supported by a $110 million acquisition loan secured from Affinius Capital.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $131,800,000
  • Loan Amount: $110,000,000
  • Loan Type: Acquisition
  • Lender: Eric Cohen - Affinius Capital
  • Landlord: Stephen D. Benjamin - Dermot Company; PGGM; Bruce Cooper - TD Asset Management
  • Brokers: Aaron Appel, Dustin Stolly & Michael Ianno - Walker & Dunlop

The transaction was part of Dermot's strategy to invest in well-located multifamily assets for future capital improvements. The loan arrangement was facilitated by the brokerage firm Walker & Dunlop, which played a crucial role in securing the financing for this acquisition.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
194 deals$32.5B volume
BROKER
Dustin Stolly
Walker & Dunlop
Dustin Stolly
267 deals$49.4B volume
BROKER
Michael Ianno
Walker & Dunlop
Michael Ianno
51 deals$6B volume
BROKER
Affinius Capital
Affinius Capital
LENDER
Stephen D Benjamin
Stephen D Benjamin
8 deals$937.8M volume
LANDLORD
BC
Bruce Cooper
1 deal$110M volume
LANDLORD
P
PGGM
LANDLORD

Details

FINANCED
IMAGE: Aaron Appel, Eric Cohen, Dustin Stolly, Stephen D. Benjamin Michael Ianno & Bruce Cooper DATE: 02/27/2026 ADDRESS: 10000 South Gardens Drive MARKET: Palm Beach Gardens ASSET TYPE: Multifamily ~ UNITS: 340 LENDER: Eric Cohen - Affinius Capital (@AffiniusCapital) LANDLORD: Stephen D. Benjamin - Dermot Company; PGGM; Bruce Cooper - TD Asset Management BROKERS: Aaron Appel, Dustin Stolly & Michael Ianno (@MIanno20) - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $110,000,000 LOAN TYPE: Acquisition NOTE: The Dermot Company, together with PGGM and TD Asset Management, secured $110 million in acquisition financing from Affinius Capital for its $131.8 million purchase of The Quaye at Palm Beach Gardens, a 340-unit Class-A multifamily complex. The loan was arranged by Walker & Dunlop, as the 2016-built community in Palm Beach Gardens becomes part of Dermot’s strategy to invest in well-located multifamily assets for future capital improvements.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$110,000,000.00

Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00