CDS International and Greenwall Capital Finalize Huge Mortgage Loan for Worthing Place in Delray Beach

Major Financing for Worthing Place in Delray Beach

CDS International Holdings (CDS) and Greenwall Capital Management have successfully finalized a significant $70 million mortgage loan for Worthing Place, a luxury apartment community situated on famed Atlantic Avenue in Delray Beach, Florida. This landmark transaction was announced on June 11, 2025, following the acquisition of the property through an all-cash transaction in November 2023.

Worthing Place: A Jewel on Atlantic Avenue

Worthing Place boasts 217 upscale units classified as Class A apartments, catering to residents looking for a boutique living experience just steps away from the beach and vibrant local amenities. The recent loan closure on May 30 signifies an essential milestone in CDS's ongoing efforts to optimize the asset's potential. Bill Milmoe, President of CDS, emphasizes the importance of this financing, stating, "This financing is a significant step forward in the realization of our long-term vision for Worthing Place. We acquired this asset intending to maintain the best residential community on Atlantic Avenue, and this financing improves our ability to do just that."

Strategic Growth and Partnership

Greenwall, which plays a leading role in the asset management of Worthing Place, was instrumental in structuring and negotiating this complex transaction. Jack Henry Kapp, Managing Partner at Greenwall, highlighted the importance of this financing, noting, "Securing $70 million in financing for Worthing Place is a testament to the strength of the asset and the performance of our team. We are grateful to Bank of America for their confidence in the property and our platform."

The collaboration between CDS and Greenwall underscores their shared vision for enhancing Worthing Place's value and positioning it for future growth in the real estate market.

The Financial Partners

The mortgage loan was facilitated by Bank of America, which played a critical role in making this financing possible. Kapp Morrison, a long-time legal advisor for CDS, represented the borrower in this transaction, while Holland & Knight served as the legal counsel for Bank of America, illustrating the layered approach to legalities involved in high-stakes real estate financing.

About CDS International Holdings

CDS International Holdings is a diversified private investment firm. It operates as the family office for the late Carl DeSantis, who was a founding shareholder of Celsius energy drinks (NASDAQ: CELH). Based in South Florida, CDS invests across various sectors including real estate, private equity, and venture capital, aiming for a long-term growth trajectory. Besides Celsius, CDS is also a founding partner of Tabañero, a renowned hot sauce manufacturer, further diversifying its investment portfolio.

About Greenwall Capital Management

Greenwall Capital Management is a real estate private equity firm that emphasizes value creation through active asset management and strategic capital deployments. It manages investments across multiple sectors, including multifamily, retail, office, industrial, and hospitality properties throughout the United States, with a keen focus on the Florida market.

Conclusion

The closing of the $70 million mortgage loan marks a pivotal moment for Worthing Place and highlights the confidence in the flourishing real estate market in Delray Beach. As CDS International and Greenwall Capital Management work hand in hand to enhance the property, residents can expect an even more premium living experience in this luxurious community.

With ongoing updates and renovations planned, Worthing Place is poised to remain a cornerstone of luxury living on Atlantic Avenue for years to come.