Concord Summit Capital Announces the Sale of Mizner Trail Golf Course in Boca Raton, FL
*MIAMI & BOCA RATON, FL* */ ACCESSWIRE / January 19, 2021 /* Concord Summit Capital, a Miami-based financial advisory firm, announces today that they have advised Concord Wilshire Capital, a nationally recognized leader in residential, resort, and mixed-use real estate development and construction, in the sale of its interest in approximately 127 acres of land, formerly known as Mizner Trail Golf Course, located in Boca Raton, Florida, to an affiliate of North American Development Group, for the development and construction of single family rental homes and townhomes. The transaction closed for $33.2 million plus a participation interest for Concord Wilshire in the new development.
"The single-family rental model has taken off in the past few years in markets like the outer rings of Phoenix, Dallas, Atlanta, Denver and Charlotte," stated Concord Summit Capital's Co-Founder, Kevin O'Grady. "Single-family housing rentals have become the 'darling of the investment community', which makes these types of projects more financeable on the front-end and upon exit. People were already seeking more space and the privacy of single-family homes before the COVID-19 pandemic, but now the single-family residential market is booming, especially in Florida. In this particular sub-market, where the median income is higher than the average market, there are more 'renters by choice‘ who could afford to buy a home, but prefer the lifestyle of renting."
The property is on the east and west sides of Camino Del Mar between Camino Real and SW 18th Street in central Boca Raton. The property will contain 252 residential dwellings in 7 separate gated residential communities, each consisting of townhomes or single family residences, or a combination of each, supported by one common amenity center.
*About Concord Summit Capital *
Concord Summit Capital is a leading intermediary between sponsors and providers of capital for commercial real estate debt and equity financing. CSC provides three independent services across its investment platform. The Concord Summit Capital advisory team provides fee-based advisory services for debt and equity transactions for commercial real estate capitalizations, ranging from $3 million to $1 billion. The Concord Summit Capital investment team acquires distressed assets and non-performing loans from all banks and financial institutions across the nation. The Concord Summit Capital fund team invests in commercial real estate debt and equity structures in transactions ranging from $2 million to $35 million. For more details, please see www.concordsummit.com.
*Media Contact:*
Todd Templin, BoardroomPR
954-290-0810
ttemplin@boardroompr.com
*SOURCE: *Concord Summit Capital
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