Updated Jul 23, 2026
FINANCEDMultiFamily
Bill Milmoe And Jack Henry Kapp Secure $70 Million Refinance Loan For Delray Beach Multifamily
32 Southeast 2nd Avenue
$70,000,000
Units
217
Asset Type
MultiFamily
Closing
May 29, 2025
About this deal
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.
On the Map
$70,000,000
MultiFamily
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Delray Beach MultiFamily Market Snapshot
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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