An acquisition and construction loan has been closed for a single-family residence located at 879 Coventry Street in Boca Raton. The property is a spacious 6,700 square feet.

Summary of transaction details

• Property Type: Single-Family Residence
• Transaction Amount: $4,550,000
• Market: Boca Raton
• Loan Type: Acquisition & Construction
• Loan Terms: 2 Year Fixed
• Equity Amount: $1,000,000
• Financing Structure: Bridge
• LTV: 75%
• LTC: 100% (Joint Venture Equity)
• Closing Timeframe: 8 Days

The lender for this transaction is Icon Realty Capital, represented by Marc Shulman, Anthony Shafer, and Jon Cruz. Icon Realty Capital is a creative special situation lender and joint venture equity investor, focusing on assets of $1 million and above. They provide financing for various asset classes and situations, including the purchase, refinance, and construction of investment purpose real estate. Their common sense approach, speed, and flexibility allow them to provide capital for challenging scenarios that fall outside the scope of traditional lending.

For more information, you can get in touch with Jon Cruz at [email protected] or Marc Shulman at [email protected].