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Bay Communities Gets $36.8M Construction Loan

MIAMI-The Massachusetts-based developer will use the funding--one of USA Capital's largest funding commitments--to develop The Surf Club II, a 196-unit condominium project planned for the Atlantic Coast in Palm Beach, FL.

By Melissa Bogdany | Updated on February 12, 2003

MIAMI-Bay Communities recently received a $36.83 million loan from USA Capital to develop The Surf Club II, a 196-unit condominium project planned for the coast in Palm Beach, FL. The loan amount is one of USA Capital’s largest funding commitments to date.

Massachusetts-based developer Bay Communities has significant holdings in Florida. USA Capital funded the construction loan in six weeks.

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