In January of 2020, Emerald Creek Capital provided an $8,610,000 acquisition loan in Delray Beach, FL. The loan is secured by a 1.18-acre beachfront property. The borrower plans to redevelop the property into a three-story, 14-unit luxury condominium building totaling 77,998 square feet. Each apartment will consist of three spacious bedrooms plus a den, walk-in closets and a private terrace. Residents will enjoy an outdoor pool, fitness center, and direct beach access. Delray Beach is a lively coastal city in southeast Florida, best known for its pristine beaches and vibrant arts scene. The inviting community boasts an abundance of galleries, boutiques and eateries, making it a popular vacation destination. The subject property is conveniently located on coastal Highway AIA, only minutes from downtown Delray.
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