Dealmaker: iBorrow Closes $42M Loan to Refinance Palm Beach Properties

(The multifamily properties, courtesy of iBorrow)

iBorrow, Los Angeles, closed a $41.6 million loan to refinance a portfolio of five properties in Palm Beach, Fla.

The properties include two multifamily buildings and three single-family homes.

“Our borrower needed to close quickly due to the upcoming maturity of the initial loan on the properties, while organizing the redevelopment of the other assets,” said Andy Peltz, Co-Executive Chairman of iBorrow. “We were able to move expediently while structuring the loan with certain release provisions to allow the borrower to have flexibility in its future plans.”