CS Ventures scores $22M loan to buy Frisbie properties in Palm Beach

by Eman Elshahawy, Matthew Elo

CS Ventures picked up a portfolio of the Frisbie Group’s Palm Beach properties just months after redevelopment plans for the sites were scrapped. Ocean Bank provided a $22 million acquisition loan for CS Ventures’ purchase of the three-story former IberiaBank building at 180 Royal Palm Way, a 20,000-square-foot office and retail property, as well as a 11,300-square-foot retail building at 301 South County Road. The deal also included three adjacent parking lots at 159 and 163 Brazilian Avenue totaling 44,000 square feet. The purchase price of the deal was not disclosed, but records show Frisbie and partners paid $26 million […]

This article originally appeared on The Real Deal. Click here to read the full story.

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