The asset involved in the transaction is a multifamily property located at 2100 South Congress Avenue in Delray Beach, featuring 327 rental units. The project, named Skye, is part of the larger 50-acre Parks at Delray development, with a construction loan amount of $79,200,000 secured for the project.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $79,200,000
• Address: 2100 South Congress Avenue
• Market: Delray Beach
• Units: 327
• Lender: CIBC Bank USA
• Landlord: Arnaud Karsenti - 13th Floor Homes
• Landlord: Diego Ardid - Key International
• Landlord: Inigo Ardid - Key International
• Loan Type: Construction
• Expected Delivery: 2027

Key individuals involved in the transaction include Arnaud Karsenti of 13th Floor Homes and Diego Ardid & Inigo Ardid, both representing Key International. Together, they are pushing forward with new rental developments in South Florida, with this financing serving to advance the construction efforts for the Skye project.