Hyperion lands equity partner, $108M construction loan for delayed Boynton Beach apartments
Hyperion Group’s long-planned Boynton Beach apartment project got a jumpstart with a $108 million construction loan and an equity partnership with Silverstein properties. The deal comes as South Florida’s multifamily market is feeling the sting from a supply overhang following hefty completions in recent years and slower in-migration. As a result, lease-ups have slowed, concessions have increased and average rents in the region have decreased. Miami-based Hyperion and New York-based Winter Properties plan the eight-story, 371-unit luxury Ocean One building at 114-222 North Federal Highway. Madison Realty Capital provided the construction loan. Adam Doneger was part of the Newmark team […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Buyer of Wynwood office building alleges “dangerous conditions” and “Band-Aid” repairs in suit against East End
Golden Beach spec home asking $80M tops signed contracts in Miami-Dade
BH, Lennar tap Elliman to sell single-family homes on former golf course west of Aventura
Oceanfront mansion lists for $195M in potential Palm Beach record
Resi roundup: Architect’s landmark Palm Beach home sells for $28M, waterfront mansion goes for $27M
Marina showdown: Inside the proposed $80M redevelopment of Rickenbacker Marina, Marine Stadium Marina
South Florida’s top deals: Former Pfizer exec sells Palm Beach home for $27M
Wealth building starts with behavior, expert tells Realtors
BREAKING NEWS: Florida Realtors supports property tax reform
South Florida Dirt: Mandarin Oriental Boca Raton developer fires back
