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7820 North Military Trail

Jeff Ardizon And Robert Suris Secure $60 Million Construction Loan For Soleste On The Trail
FINANCEDMultiFamily

Jeff Ardizon And Robert Suris Secure $60 Million Construction Loan For Soleste On The Trail

7820 North Military Trail

$60,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 3, 2025

AI

Soleste on the Trail is a garden-style multifamily community located at 7820 North Military Trail in Riviera Beach. The property consists of four-story rental buildings and includes 255 rental units. It features a two-acre lake at its center, complemented by a walking trail and various amenities, including a clubhouse, resort-style pool with cabanas, outdoor barbecue areas, a state-of-the-art fitness center, a full-service spa, a co-working lounge, a playground, and a dog park.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $60,000,000
  • Lender: BB Americas Bank
  • Landlord: Jeff Ardizon, Principal & Robert Suris, Managing Principal - The Estate Companies
  • Broker: Jim Fried - Sandstone Realty Advisors
  • Loan Type: Construction

Jeff Ardizon and Robert Suris represent The Estate Companies in this transaction, emphasizing their roles as key figures in the development and management of the property. The partnership with BB Americas Bank facilitates the construction financing needed to enhance the multifamily community and its amenities.

Players

James Fried

Sandstone Realty Advisors

Broker

$60M

vol

1 deal

Broker
BB
Bb Americas BankLender

Robert Suris

The Estate Companies

Landlord

$979.9M

vol

14 deals

Landlord

West Palm 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

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93