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32 Southeast 2nd Avenue

Bill Milmoe And Jack Henry Kapp Secure $70 Million Refinance Loan For Delray Beach Multifamily
FINANCEDMultiFamily

Bill Milmoe And Jack Henry Kapp Secure $70 Million Refinance Loan For Delray Beach Multifamily

32 Southeast 2nd Avenue

$70,000,000

Building Size

Asset Type

MultiFamily

Closing

May 29, 2025

AI

The property involved in this transaction is a multifamily asset consisting of 217 units, located at 32 Southeast 2nd Avenue in Delray Beach. The loan associated with the property amounts to $70,000,000, designated for refinance purposes.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $70,000,000
  • Address: 32 Southeast 2nd Avenue
  • Market: Delray Beach
  • Units: 217
  • Lender: Bank of America
  • Landlord: Bill Milmoe - CDS International Holdings
  • Landlord: Jack Henry Kapp - Greenwall Capital Management
  • Loan Type: Refinance

The key individuals in this transaction include Bill Milmoe representing CDS International Holdings and Jack Henry Kapp representing Greenwall Capital Management. Their roles as landlords are critical to the details of this refinancing agreement with Bank of America.

Players

Bank of America
Bank of AmericaLender

Bill Milmoe

CDS International Holdings

Landlord

$237.9M

vol

4 deals

Landlord

Delray Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93