$5,654,085 Acquisition Loan Secured for Multifamily Property in Delray Beach, FL
Apr 14, 2026 Private Money
Deal Summary
Frc Vtx Assets Llc, a private party lender, recorded a $5,654,085 mortgage on a multifamily townhome property at 248 Southeast 1st Avenue in Delray Beach. The loan was executed April 14, 2026 and recorded April 16, 2026 in Palm Beach County under document 135970 (APN 12-43-46-16-01-071-0050). County records list the owner as 248 Se 1st Townhomes Llc.
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Transaction Details
- Closing Date
- Apr 14, 2026
- Loan Amount
- $5,654,085
- Loan Type
- Private Money
- Loan Purpose
- Acquisition
- Capital Type
- Senior Debt
- Asset Type
- Multifamily
- Source
- County record
Property
- Address
- 248 Se 1st Ave
- City, State
- Delray Beach, FL
- Market
- Palm Beach
Property Facts
- Building Size
- 1,304 sq ft
- Lot Size
- 13,862 sq ft (0.32 ac)
- Year Built
- 1957
- Year Renovated
- 1970
- Stories
- 1
- Buildings
- 2
- Zoning
- RM
- Subtype
- Multi Family (General)
- Units
- 4
- Floor Area Ratio
- 0.09
Sale History
Last sold for $2,200,000 on Apr 14, 2026. Prior owner PELICAN INVESTMENT GROUP LLC (business entity).
Prior Financing
| Recorded | Lender | Amount | Instrument | Type |
|---|---|---|---|---|
| Apr 16, 2026 | FRC VTX ASSETS LLC | $5,654,085 | Mortgage | CONVENTIONAL |
| Feb 11, 2026 | GOODY TWO SHOES INC | $950,000 | Modification Of Mortgage | |
| Feb 17, 2022 | GOODY TWO SHOES INC | $850,000 | Mortgage | PRIVATE PARTY LENDER |
Recorded mortgage history from county records. Amounts are original recorded principal, not current balances.
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Transaction details are compiled from public announcements, press releases, industry reporting, or information submitted by parties to the transaction, and have not been independently verified by LoanList CRE. Terms shown may be approximate. Nothing on this page constitutes a quote, offer, or guarantee of financing terms. Full disclaimer.