Cardone Capital Secures $105M Loan For Boca Raton Multifamily Property

Located at 5550 North Military Trail in Boca Raton, this multifamily property encompasses 400,000 square feet. The transaction took place on December 4, 2020.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Market: Boca Raton
• Lender: New York Community Bank (NYCB)
• Landlord: Cardone Capital
• Brokers: Israel Schubert, David Cohen, Mordy Schwartz, & Mark Krupenia - Meridian Capital Group

The loan for this transaction was provided by New York Community Bank (NYCB). The loan amount is $105,000,000, and it is subject to interest-only payments of 2.89 percent for the entire 7-year term.