Updated May 12, 2025
David Lynd Of The Lynd Group Secures $132.5 Million Refinance Loan For Multifamily Asset
11200 103rd Avenue North
$132,500,000
Units
401
Asset Type
MultiFamily
Closing
Mar 28, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property with 401 units located at 11200 Nicole Drive in Royal Palm Beach. The property is part of the resort-style community known as Villas at Tuttle Royale, which is situated within a larger 200-acre mixed-use development. The transaction involved refinancing of construction debt totaling $132,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $132,500,000
- Loan Type: Refinance
- Lender: Scott Waynebern - MF1 Capital
- Landlord: David Lynd - The Lynd Group
- Units: 401
- Address: 11200 Nicole Drive
- Market: Royal Palm Beach
Key individuals in this transaction include Scott Waynebern, who represents MF1 Capital as the lender, and David Lynd, who represents The Lynd Group as the landlord. This loan allows The Lynd Group to retire its construction debt on the property, which was completed in Q1 2025.
On the Map
$132,500,000
MultiFamily
View full map
Players
West Palm Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit David Lynd to view all their deals.
Browse West Palm Beach multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93