Private Construction Loan for Luxury Home in Delray Beach, Florida

Funded by BridgeInvest


Deal Details

Private Loan Type

Residential Rehab

Approx. Funding Date


Property Type
Single Family Residence
Property City

Delray Beach

Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Building Square Footage


Deal Summary

BridgeInvest, a direct CRE private lender, funded a $8MM 1st lien position construction completion loan secured by a 12,500-square-foot waterfront, ultra-luxury home located in Delray Beach – one of the fastest growing cities in Palm Beach County. The loan will allow the Sponsor, to complete construction and design changes for the home. We restructured the initial acquisition loan to fund the additional proceeds required for the Sponsor to execute their business plan. This marks the fifth loan closed with this Client. The home is a niche product due to its unique situation, exclusive location, and luxury price point, necessitating bespoke underwriting and a tailored loan structure. Located across A1A from the beach, the three-story home boasts over 140 linear feet of unobstructed ocean views and is less than a half mile from Atlantic Avenue, the center for entertainment in Downtown Delray Beach, providing easy access to desirable retail and restaurants. The home includes amenities such as a pool, spa, gym, wine cellar, 5-car garage, and a summer kitchen. This private money construction loan was funded in March 2019.

Funded By


Bridge & Construction Loans for CRE in the Southeast and Texas