Prospect Real Estate Group & Midtown Capital Secures $28.7M Construction Loan For Lake Worth Multifamily

2253 Keast Lane, Lake Worth, FL 33461, USA

$28,700,000

$2,033/SF

Building Size

14,113 SF

Asset Type

MultiFamily

Closing

Sep 3, 2021

AI

Located at 2253 Keast Lane in Lake Worth, this multi-family property spans across 6.4 acres and consists of 240 units. The property is part of a closed transaction, with Prospect Real Estate Group and Midtown Capital serving as the landlords.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $28,700,000
Units: 240
Acres: 6.4

The construction loan for this property was provided by Pensam Capital, with Dominic Rechichi representing the lender. The loan amount is $28,700,000. The deal involved the collaboration between Prospect Real Estate Group, Midtown Capital, and Pensam Capital.

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