Newmark Knight Frank vice president Fernando Riboli in Boca Raton. Courtesy photo
The financing is to pay for value-add improvements at communities near Lake Worth Beach and Palm Springs.
January 21, 2020 at 11:24 AM
1 minute read
South Florida real estate reporter
An out-of-state real estate investor and developer obtained $38.1 million to finance its value-add improvement strategy for two Palm Beach County apartment communities.
Federal Capital Partners, based in Chevy Chase, Maryland, secured the loan about two months after acquiring Costa Del Lago apartments west of Lake Worth Beach and Coronado Springs East in Palm Springs.
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