Legacy Development Secures $40M Loan For Kissimmee Multifamily Property
FINANCED
$40,000,000
Arizona
See Similar DealsMultiFamily2,628 SF
Financed 06/14/2020
FINANCED
Legacy Development Secures $40M Loan For Kissimmee Multifamily Property
1201 Live Oak Ridge Road, Kissimmee, FL, USA
See Similar DealsMultiFamily2,628 SF
Financed 06/14/2020
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$15,220
Total Square Footage:2,628 SF
Transaction Type:Loan
The multifamily property located at 1201 East Oak Street in Kissimmee has been involved in a closed transaction. The deal was facilitated by Glacier Global Partners, represented by Yaniv Blumenfeld, who acted as the lender. Legacy Development acted as the landlord in this transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Loan Terms: Non-recourse debt
- Units: 256
The loan provided for this transaction amounted to $40,000,000. It is important to note that the loan was non-recourse debt, offering favorable terms for the parties involved. The property consists of 256 units, making it a significant multifamily asset in the Kissimmee market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$40,000,000.00
Monthly NOI$266,666.67
Monthly Debt Service$252,827.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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