Jerome And Miles Rich Of Rich Properties Secure $38.55M Refinance Loan For Multifamily Asset

The property asset involved in this transaction is a multifamily unit comprising 306 units located at 2882 Tennis Club Drive in the West Palm Beach market. The loan amount secured for this asset is $38,550,000, and it is a refinance loan with a seven-year, fixed-rate term.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $38,550,000
• Lender: Freddie Mac
• Borrower: Jerome & Miles Rich - Rich Properties
• Landlord's Rep: Mitch Sinberg, Scott Wadler, Matthew Robbins & Brad Williamson - Berkadia
• Loan Type: Refinance
• Loan Terms: seven-year, fixed-rate

This transaction involves key individuals including Jerome Rich and Miles Rich representing Rich Properties as the borrowers. The lender for this loan is Freddie Mac, facilitating the refinance process for the multifamily asset. The landlord's representatives from Berkadia include Mitch Sinberg, Scott Wadler, Matthew Robbins, and Brad Williamson, who played a significant role in this deal.