iBorrow, a nationwide private direct lender, recently closed a $41.6 million loan to refinance five properties in Palm Beach. The portfolio consists of two multifamily buildings with 16 and 12 units respectively, as well as three single-family homes totaling 32,636 square feet. The luxury single-family residence is 9122 square feet and features six bedrooms, seven and a half bathrooms plus amenities such as swimming pool and private dock with lake access.
Andy Peltz co-executive chairman of iBorrow commented on the transaction: “This $41.6 million refinancing in an attractive market showcases two key elements of our value proposition: flexibility & speed” He added that Florida will remain an important part of their lending strategy due to its strong real estate fundamentals & growth potentials
