Newmark Arranges $139 Million Financing For Newly Completed Multifamily Property In Delray

Newmark has arranged a $139 million loan on behalf of 13th Floor Investments, Key International, Wexford Real Estate Investors and CDS International Holdings to refinance Savio, a newly completed, luxury multifamily property located in Delray Beach.

The financing was provided by CIBC USA and arranged by Newmark’s Jordan Roeschlaub, Nick Scribani, Daniel Matz, Max Ralby, Ricky Braha and Sam Speciale.

Completed between 2024 and 2025, Savio comprises 420 units, offering a mix of studios, one-, two- and three-bedroom layouts, and townhomes.

The property represents the first phase of the larger Parks at Delray development, with the second phase, Skye, scheduled to break ground in late 2025.