Madison Realty Capital Provides $30M Inventory Loan For Metropica Condo Development In Sunrise
2000 Metropica Way, Sunrise, FL, USA
$30,000,000
$38,510/SF
Building Size
779 SF
Asset Type
—
Closing
Jun 1, 2020
About this deal
AI
The property involved in this closed transaction is a condominium located at 2000 Metropica Way in Sunrise. The condo consists of 263 units and is part of the Metropica Development. The deal was facilitated by Joseph Kavana, the landlord representing Metropica Development. The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen serving as the lender.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $30,000,000
Melissa Rose LL was the broker involved in this transaction, representing the interests of the parties involved. The deal was finalized on June 1, 2021, making it a recent closed transaction in the Sunrise market.
Players
Sunrise CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93