Banyan Commercial Capital LLC arranged a $38.8 million loan for the construction of Aura Seaside, a 250-unit luxury apartment complex on the Intracoastal Waterway in Lantana.
The developer is TRG Seaside LP, a subsidiary of Dallas-based Trinsic Residential Group LP. The loan was provided by a group led by TD Bank N.A., headquartered in New Jersey, a subsidiary of the Toronto-Dominion Bank of Canada. The loan has a three-year initial term and extension options. The floating rate starts below 3 percent.
