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Jeffrey Soffer Secures $50M Loan For Tequesta Condo Acquisition

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FINANCED
$50,000,000

Florida

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1,200 SF
Financed
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FINANCED

Jeffrey Soffer Secures $50M Loan For Tequesta Condo Acquisition

1500 Beach Road, Tequesta, FL, USA

See Similar Deals
1,200 SF
Financed
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Price Per Square Foot:$41666
Total Square Footage:1200 SF
Transaction Type:Loan

The property involved in the transaction is a condo located at 1500 Beach Road in the market of Tequesta. The transaction took place on 03/31/2021. The asset type of this property is a condo.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $50,000,000
  • Address: 1500 Beach Road
  • Market: Tequesta

The lender for this transaction is Bank OZK. The landlord in this deal is Jeffrey Soffer, who represents Fontainebleau Development.

Players

Jeff Soffer
Brookfield Properties
Jeff Soffer
11 deals$2.1B volume
BROKER
Bank OZK
Bank OZK
LENDER
Jeff Soffer
Jeff Soffer
11 deals$2.1B volume
LANDLORD

Details

FINANCED
IMAGE: Jeffrey Soffer DATE: 03/31/2021 ADDRESS: 1500 Beach Road MARKET: Tequesta ASSET TYPE: Condo LENDER: Bank OZK LANDLORD: Jeffrey Soffer - Fontainebleau Development LOAN AMOUNT: $50,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00