JSB Capital Group, Johnston Group, And Carlyle Tiller Acquire Multifamily Property In Palm Beach Shores For $60M
FINANCED
$60,000,000
Florida
See Similar DealsMultiFamily
Financed 10/25/2023
FINANCED
JSB Capital Group, Johnston Group, And Carlyle Tiller Acquire Multifamily Property In Palm Beach Shores For $60M
184 Lake Drive
See Similar DealsMultiFamily
Financed 10/25/2023
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in this transaction is a multifamily property located at 184 Lake Drive in Palm Beach Shores. The transaction took place on October 25, 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Lender: S3 Capital Partners - Robert Schwartz & Steven Jemal
- Broker: Andy Weiss - Dansker Capital Group
- Owner: Jared Frydman – JSB Capital Group; Ryan Johnston & Carlyle Tiller – Johnston Group
- Loan Type: Acquisition & Construction Loan
The key individuals involved in this deal are Robert Schwartz and Steven Jemal from S3 Capital Partners, who served as the lenders for the transaction. The broker for the deal was Andy Weiss of Dansker Capital Group. The property is owned by Jared Frydman from JSB Capital Group, along with Ryan Johnston and Carlyle Tiller from Johnston Group.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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