Jumbo lending in PB County warmed up last month

Miami /
Mar.March 20, 2016 12:30 PM

Lenders last month closed 62 mortgage loans over $1 million on property in Palm Beach County, up from 48 in January, according to a survey by Rabideau Law, a real estate law firm with offices in Palm Beach and Toronto,

But in the six months ended in February, the number of $1 million-plus Palm Beach County mortgage closings dropped to 320 from 345 in the prior six months.

The law firm also reported Palm Beach County mortgages over $1 million totaled $608.6 million in the September-February period, down from $751.1 million in the prior six-month period.

Rabideau Law reported that City National Bank’s $8.9 million loan to Penelope F. Antonini was the largest residential mortgage originated in Palm Beach County last month.

The Rabideau survey also showed that the largest Palm Beach County commercial mortgage loan in February was from Jackson National Life Insurance Co. to PRCP Abacoa Investment LLC, in the amount of $26.3 million.


Related Articles

arrow_forward_ios
Brent Baker and a  rendering of 5024 South State Road 7 (DiVosta, iStock)

Pulte buys 31 acres in Lake Worth, plans housing community

Pulte buys 31 acres in Lake Worth, plans housing community
Prospective buyers continued to sign contracts for both condos and houses throughout South Florida in October

Signed resi contracts rise again in South Florida in October

Signed resi contracts rise again in South Florida in October
Rob Thomson (Rob Thomson, Palm Beach County Sheriff's Office, iStock)

Jupiter agent Rob Thomson gets probation for domestic battery against ex-fiancée

Jupiter agent Rob Thomson gets probation for domestic battery against ex-fiancée
920-1934 Stirling Road in Broward and 510 Linton Boulevard in Delray Beach (Google Maps, iStock)

South Florida’s retail market weakens in Q3

South Florida’s retail market weakens in Q3
Clockwise from top left: 1801 NW 82nd Ave, Miami; 6600 Congress Avenue, Boca Raton; 501 103rd Avenue, Royal Palm Beach; 3423 McIntosh Road, Hollywood (Google Maps)

South Florida industrial market shows signs of weakness in Q3

South Florida industrial market shows signs of weakness in Q3
Despite record high office vacancies across South Florida, average asking rates hit new highs

South Florida Q3 office rents hit record high, despite higher vacancies

South Florida Q3 office rents hit record high, despite higher vacancies
Multifamily project in Palm Beach County advances

Multifamily project in Palm Beach County advances

Multifamily project in Palm Beach County advances
2290 and 2328 10th Avenue N, Lake Worth

Lake Worth Beach office buildings sell for $11M

Lake Worth Beach office buildings sell for $11M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...