 |
| Old Palm Golf Club, 651 acres, Palm Beach Gardens, FL |
MIAMI, FL – HFF announced today that it has secured $11
million in financing for the unsold single-family home lots and club memberships
at Old Palm Golf Club in Palm Beach Gardens, Florida.
 |
| Jim Dockerty |
Working on behalf of Clarion Partners, HFF placed the short-term,
fixed-rate financing with American Real Estate Capital.
The
Old Palm Golf Club is a 651-acre private golf club community with approximately
300 single-family home lots located in Palm Beach Gardens, Florida.
To date, 190 homes have been developed from 2004 to the
present. In 2013, lot sales in the community have been exceptionally strong,
with more than 30 lots sold year-to-date.
Completed homes start at approximately $1.3 million and
larger estates range between $5 million and $15 million. A maximum of 330 club
memberships are available to the exclusive golf club community.
The
HFF team representing the borrower was led by managing director Jim Dockerty
and senior real estate analyst Scott Wadler.
HFF’s debt placement team arranged more than $3.4 billion in
multi-housing loans nationally in the first half of 2013. HFF arranged more than $216 million in
multi-housing transactions across all capital markets platforms in the state of
Florida during the first half of 2013.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
David Nigro
Kohler Nordlund
305-447-6835.
No comments:
Post a Comment