US multifamily real estate investor The Dermot Company has secured $110m (€93.1m) in financing from Affinius Capital for the acquisition of a 340-unit asset in Florida.
Affinius Capital said it provided the loan to finance the acquisition of The Quaye at Palm Beach Gardens.
The financing was arranged by Aaron Appel, Dustin Stolly and Michael Ianno of Walker & Dunlop.
Eric Cohen, co-head of debt originations at Affinius Capital, said: “Palm Beach County’s strong fundamentals and sustained growth trajectory made this a compelling opportunity. The market has demonstrated consistent demand drivers such as population growth, strong employment, and an expanding high-income renter base that support this asset’s long-term performance.
“The Dermot Company is an established Affinius partner with deep expertise and we look forward to building on our existing relationship with this transaction.”
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