08/12/2024
Just Funded!
Icon was approached by seasoned investors seeking to expand their portfolio in the competitive Palm Beach County market. The sponsors, having purchased the land in cash, turned to Icon for financing to retrieve equity and complete the ground-up construction of a single-family residence. Through a delayed purchase structure Icon provided $825,900 on Day 1 with a holdback budget of $2,383,976, constrained to 85% LTC. The expected term for this exciting project is 18 months.
This transaction was expertly led by Julien Hill, and we look forward to many more successful partnerships with this sponsorship team.
Great job to everyone involved!