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Beachwalk Article

Falcone Associates Secures $51.6 Million Construction Loan for Beachwalk Apartments in Saint Johns
Local Developer Receives Financing for 348-Unit Apartment Complex

Falcone Associates LLC, the family office of Arthur Falcone based in Boca Raton, Florida, secured a $51.6 million construction loan for its 348-unit apartment complex in Saint Johns, Florida, Beachwalk Apartments.

The company secured a $34.75 million loan from BB&T and the remaining $16.85 million in joint-venture equity from Birmingham, Alabama-based Equity Resources LLC.

Located off of Old Country Road 210, Falcone broke ground on Beachwalk Apartments this year and expects to complete construction late next year.

Kevin O’Grady, Daniel Sheehan and Eric McGlynn of Walker & Dunlap arranged the construction financing on behalf of the borrower.

The Walker & Dunlop team also worked with Americrest Luxury Homes, a firm led by Falcone, Neil Eisner and Albo Antenucci, Jr., in securing a $6.5 million construction loan for its latest project, the 166-unit Atlantica Isles. The company plans to break ground on the apartment complex this month.

Falcone Associates Secures $51.6 Million Construction Loan for Beachwalk Apartments in Saint Johns
Local Developer Receives Financing for 348-Unit Apartment Complex

Falcone Associates LLC, the family office of Arthur Falcone based in Boca Raton, Florida, secured a $51.6 million construction loan for its 348-unit apartment complex in Saint Johns, Florida, Beachwalk Apartments.

The company secured a $34.75 million loan from BB&T and the remaining $16.85 million in joint-venture equity from Birmingham, Alabama-based Equity Resources LLC.

Located off of Old Country Road 210, Falcone broke ground on Beachwalk Apartments this year and expects to complete construction late next year.

Kevin O’Grady, Daniel Sheehan and Eric McGlynn of Walker & Dunlap arranged the construction financing on behalf of the borrower.

The Walker & Dunlop team also worked with Americrest Luxury Homes, a firm led by Falcone, Neil Eisner and Albo Antenucci, Jr., in securing a $6.5 million construction loan for its latest project, the 166-unit Atlantica Isles. The company plans to break ground on the apartment complex this month.

Falcone Associates Secures $51.6 Million Construction Loan for Beachwalk Apartments in Saint Johns
Local Developer Receives Financing for 348-Unit Apartment Complex

Falcone Associates LLC, the family office of Arthur Falcone based in Boca Raton, Florida, secured a $51.6 million construction loan for its 348-unit apartment complex in Saint Johns, Florida, Beachwalk Apartments.

The company secured a $34.75 million loan from BB&T and the remaining $16.85 million in joint-venture equity from Birmingham, Alabama-based Equity Resources LLC.

Located off of Old Country Road 210, Falcone broke ground on Beachwalk Apartments this year and expects to complete construction late next year.

Kevin O’Grady, Daniel Sheehan and Eric McGlynn of Walker & Dunlap arranged the construction financing on behalf of the borrower.

The Walker & Dunlop team also worked with Americrest Luxury Homes, a firm led by Falcone, Neil Eisner and Albo Antenucci, Jr., in securing a $6.5 million construction loan for its latest project, the 166-unit Atlantica Isles. The company plans to break ground on the apartment complex this month.

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