Cypress Falls – Palm Harbor, FL (Pinellas County)
Palm Harbor One was formed in 2005 to finance the acquisition of the Cypress Falls Apartments in Palm Harbor (Pinellas County), FL. Cypress Falls is the combination of two 1980′s-vintage apartment complexes comprising 432 units. Palm Harbor One acquired the Property for $29,500,000. The purchase was financed primarily by a $29,000,000 Promissory Note Secured by Mortgage issued by a group of approximately 400 investors.
CCM Pathfinder Pompano Bay, LLC (“CCM Pathfinder Pompano Bay”) was formed to acquire fragmented loan share interests in Bay Pompano, LLC, which it began doing in November 2006. The charter of CCM Pathfinder Pompano Bay was expanded in February 2007, when it also began acquiring fragmented loan share interests in Palm Harbor One, LLC. CCM Pathfinder is owned jointly by Pathfinder Partners, LLC and Contrarian Capital Management, a financial institution with $3.5 billion of capital under management specializing in distressed debt and opportunistic real estate investments.
At a Glance
|Name:||Palm Harbor One, LLC|
|Number of Units:||432|
|City, State:||Palm Harbor, Florida|