Moshe Popack And YMP Real Estate Secure $37 Million Refinance Loan From IDB Bank For Multifamily Asset

This transaction involves a multifamily asset located at 6212 Forest Hill Boulevard, West Palm Beach, FL, consisting of 266 units. The asset secured a refinance loan amount of $37,000,000 from IDB Bank, which includes a fixed interest rate of 6.29% and a 30-year amortization schedule. The loan is structured with a 5-year term allowing for interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,000,000
• Lender: IDB Bank
• Landlord: Moshe Popack & YMP Real Estate
• Broker: David Hayum - Meridian Capital Group
• Loan Type: Refinance
• Loan Terms: 5-year term, 6.29% fixed, 30-year amortization

David Hayum, Managing Director of Meridian Capital Group, facilitated the financing for this multifamily portfolio, indicating his expertise in managing large-scale transactions. The arrangement was tailored to align with the long-term goals of the sponsor, showcasing Meridian's capability in the current market.