Developer Trio Closes $108M Construction Loan for Boynton Beach Rental Community
Hyperion Group, Silverstein Properties and Winter Properties obtained financing for Ocean One, a 371-unit luxury multifamily project in Boynton Beach. Madison Capital provided a $108 million construction loan, and Newmark arranged an equity placement.
Newmark’s Adam Doneger, Avery Klann and Hampton Beebe represented Hyperion Group and Winter Properties in the equity raise, while Jordan Roeschlaub, Nick Scribani and Holden Witkoff secured the construction financing.
Ocean One will rise eight stories across approximately 3.71 acres in Central Palm Beach County. The development will feature a mix of junior one-bedroom, one-bedroom and two-bedroom residences. On-site amenities will include a pool and spa, fitness center, pickleball court, co-working spaces, sports simulator and ground floor retail.
Arquitectonica designed the project.
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ARCTRUST, Edison Equity Teaming Up on 175-Unit Austin-Area 55+ Community
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RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout