Andy Weiss of Dansker Capital Group has arranged a $60 million acquisition and construction loan for Cannonsport apartments and marina in Palm Beach Shores, FL.
NEW YORK, NY, UNITED STATES, November 6, 2023 /EINPresswire.com/ — Dansker Capital Group, a leading commercial real estate finance firm, announced today that it has arranged a $60 million acquisition and construction loan for Cannonsport apartments (36 units) and Cannonsport marina (54 slips) in Palm Beach Shores, FL. The loan was arranged by Andy Weiss, a founding member of Dansker Capital Group.
The loan was provided by S3 Capital, a leading commercial lender. “When Andy showed us this deal and the sponsorship, we recognized the unique opportunity to lend on a waterfront asset with a marina in Palm Beach Shores, and were poised to execute quickly and efficiently. We are looking forward to seeing JSB and Johnston Group progress with their business plan on this iconic asset” said Steven Jemal, the lender from S3.
“We are pleased to have arranged this financing for our client,” said Weiss. “This loan will allow our client to acquire and renovate the Cannonsport apartments and marina, and to generate a significant return for themselves and their investors.”
The borrower is a partnership of Johnston Group Capital Management, Inc. and JSB Capital Group. Johnston Group Capital Management is an affiliate of Johnston Group Development & Construction, Inc., an active Palm Beach-based real estate construction and development firm with over 30 years of experience. JSB is a prolific private equity firm that specializes in investing in real estate and other assets in South Florida and across the country.
“Andy Weiss and S3 Capital delivered big for us on this project,” said Carlyle Tiller, CIO at Johnston Group. “This loan will allow us to execute on our vision for the Cannonsport apartments and marina, and to create a highly desirable community for residents to enjoy.”
Jared Frydman, Managing Director at JSB, commented: “We are thrilled with the execution from both Dansker and S3 and look forward to executing our business plan with Johnston Group.”
Andy Weiss is one of the founding members of Dansker Capital Group. He focuses on brokering $1-75 MM loans in NYC, Florida, and nationally. Before becoming a Commercial Mortgage Broker he spent 5 years at PwC in their Financial Markets Group focusing on valuation and transaction services for fixed-income instruments. He is a CPA and CFA charterholder.
Dansker Capital Group