Updated Mar 11, 2025
Legacy Development Secures $40M Loan For Kissimmee Multifamily Property
1201 Live Oak Ridge Road, Kissimmee, FL, USA
$40,000,000
$15,220/SF
Building Size
2,628 SF
Asset Type
MultiFamily
Closing
Jun 14, 2020
About this deal
AI
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.
On the Map
$40,000,000
$15,220/SF
MultiFamily
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Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93