iBorrow Refinances $42M in Florida, Continuing Expansion

iBorrow, a nationwide private direct lender, recently closed on 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; one luxury single-family home totaling 9,122 square feet; and two additional single-family homes for an overall total of 32,636 square feet.
The luxury residence includes six bedrooms and seven and a half bathrooms as well as access to amenities such as swimming pool facilities plus private dock access to the lake area nearby.
Andy Peltz co-executive chairman at iBorrow commented that “this $41.6 million refinancing in an attractive market is reflective of our value proposition: flexibility & speed” He went on further by saying “Florida is part of our lending strategy due its potential for real estate growth”