Imagine Charter School Real Estate in Town Center Sells for $12,895,494

This transaction generated $90,268.50 in document taxes. The $13.8 million purchase mortgage generated an additional $75,900. The property last sold in 2010

Palm Coast, FL – September, 17, 2014 – For the second time in less than five years, the real estate housing the Imagine Charter School at 775 Town Center Blvd has traded hands. Inland PPD Charter Palm Coast LLC, of Oak Brook, Ill, sold lots 3, 4 and 5 of Town Center phase 5 to AEP Charter Town Center LLC, of Foster City , Calif.

The $12,895,494 transaction closed August 28th, generating $90,268.50 in document taxes. The purchase was financed via a $13,800,000 mortgage by Keybank. The mortgage filing generated an additional document tax of $48,300 plus a non-recurring intangible tax of $27,600.

Inland purchased the property from Schoolhouse Finance in 2010 for $9,354,400. A two-story addition for classrooms was added one year later. The Proposed Value assigned by the Flagler County Property Appraiser in $5,217,729. The school property is not subject to real estate taxes.