Nelson Peltz & Claudia Peltz Secure $68.5M Loan From Bank Of America For Palm Beach Estate

The property involved in this transaction is a single-family estate located at 542 & 548 North County Road in Palm Beach, encompassing a total area of 40,700 square feet and set on 13.1 acres. The estate, known as Montsorrel, has an assessed market value exceeding $372 million, significantly more than the original purchase price of $16.5 million in the late '80s. A mortgage of $68.5 million was secured for this property from Bank of America.

Summary of transation details:

• Property Type: Single Family
• Transaction Amount: $68,500,000
• Lender: Bank of America
• Landlord: Nelson Peltz & Claudia Peltz
• Market: Palm Beach
• Asset Size: 40,700 SF
• Acreage: 13.1
• Original Purchase Price: $16,500,000
• Current Market Value: $372,000,000

Key individuals in this transaction include billionaire Nelson Peltz and his wife Claudia, who are the landlords of the property. Their daughter, Nicola Peltz, is married to Brooklyn Beckham. This transaction adds to a series of loans associated with the estate, highlighting the ongoing financial activities related to this high-value property.