JV Equity Request for So. FLA Mixed-Use Development

June 30, 2022

The Carlton Group is engaged with a real estate investment firm (“Sponsor”) to raise capital for their fully entitled and approved, mixed-use project in the heart of Palm Beach County, FL (the “Project”). This shovel-ready Project will consist of multifamily and retail that is 60% pre-leased with national tenants.

 

The sponsor is requesting $40 million of JV equity to co-invest in the Project.

 

Project Highlights:

• Projected deal level returns of high 30% IRR and mid-2x equity multiple.
• Overall site is at intersection of heavily-trafficked main roads and has been owned and assembled over 8 years.
• Pre-development currently underway and anticipated to “go vertical” end Q2/early Q3 2023.
• 100% completed Construction Drawings on several of the five buildings.
• Amenities to include tennis/pickleball courts, rooftop pool/hot tub, co-working space, etc.
• Sponsorship team includes best-in-class developer with nearly $2B in new projects and GC with 80+ years of experience.

 

Paul Wolfson | Director

360 Madison Avenue, 3rd Floor | New York, NY 10017

+1 917.332.2058 Office | +1 914.393.4988 Mobile

Email: pwolfson@carltongroup.com

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