The Lynd Group, a national real estate development and property management firm, refinanced one of its premier multifamily developments in South Florida, The Villas at Tuttle Royale. The $132.5 million bridge loan provided by MF1 Capital will retire a construction loan for the property, which was completed in the first quarter of 2025.
“I believe this refinancing is a testament to the quality of our development and the strength of our company as a borrower,” said A. David Lynd, CEO of The Lynd Group. “We take pride in delivering best-in-class multifamily communities that stand out, such as The Villas at Tuttle Royale. Securing over $132 million in debt on the property underscores the confidence top-tier lenders have in our vision and execution.”
Lynd continued, “I would like to thank Declaration Partners for being a terrific partner in the Villas deal, our construction lender S3 Capital, and commend the entire Lynd development team for taking this incredible project from concept to completion.”
In March 2023, New York-based S3 Capital provided $126 million in construction financing for the 401-unit project.
“The Villas at Tuttle Royale serves as a prime example of the liquidity available in the South Florida market for the right product,” said Steven Jemal, managing director of origination at S3 Capital.” The Lynd team performed as promised, paying off our loan in full, on time, and on budget. Lynd has shown time and time again they know how to execute, and we look forward to partnering together again in the future.”
The Villas at Tuttle Royale is located at 11200 Nicole Drive in Royal Palm Beach, a thriving community west of West Palm Beach. Lynd Development developed the $170 million resort-style rental community within Tuttle Royale, a 200-acre mixed-use project near US 98 and US 441. The large adjacent mixed-use project will feature several anchor tenants, including trendy restaurants, shopping, green space and community gathering spaces.
The Villas at Tuttle Royale consists of 26 three-story, garden-style buildings with private detached garages and carports and 55 townhomes with private two-car garages. The community offers a variety of one-, two-, three-, and four-bedroom residences, all featuring quartz countertops, wood-style flooring, and smart-home technology.
Residents enjoy an extensive amenity package, including:
- A two-story clubhouse with a sauna, fitness and wellness center, coffee bar, private dining areas, game room, community catering area, two lounges, co-working pods, business center and outdoor panoramic terrace
- An expansive recreation deck featuring a resort-style pool, cold plunge, spa, cabanas, lounge seating, fire pits and an outdoor pool pavilion equipped with gas grills.
- Outdoor amenities such as a golf putting green, bocce and pickleball courts, volleyball court, soccer fields, summer kitchen, fire pit, dog park and run, lake and field overlooks, bike path, lake running trail accompanied by exercise stations, and a children’s playground.
About The Lynd Group
The Lynd Group is a fully vertically integrated real estate organization based in San Antonio, TX, with a long-standing history in the acquisition, development, and management of residential and commercial real estate. With operations throughout the U.S., Lynd ranks among the nation’s premier multifamily management companies. For more information, visit www.lynd.com.
Photo credit: The Lynd Group
