Dealmaker: Dockerty Romer Arranges $63M for Florida Multifamily
Dockerty Romer & Co., Delray Beach, Fla., arranged $63 million in permanent mortgage financing for a West Palm Beach, Fla., multifamily community.
The subject property, Oversea at Flagler Banyan Square, is a newly constructed mid-rise community with 251 units and 20,121 square feet of street-level commercial space in a 10-story building.
One of the newest additions to the West Palm Beach market, Oversea at Flagler Banyan Square offers studio, one-, two- and three-bedroom floorplans.
Craig Romer and Chris Romer closed the deal their client, a joint venture between a global real estate investment manager Woodfield Investments, Isle of Palms, S.C. Wells Fargo Bank provided the five-year floating-rate loan.
Craig Romer said Wells Fargo provided an excellent debt structure that will allow the borrower to execute on its long-term business plan.