Westside Capital Acquires Condo In Fort Myers With $47.1M Loan From Ladder Capital Corp
2500 Edwards Drive, Fort Myers, FL, USA
$47,100,000
$154/SF
Building Size
304,122 SF
Asset Type
—
Closing
Sep 10, 2021
About this deal
AI
An acquisition loan in the amount of $47,100,000 has been secured for a condo property located at 2500 Edwards Dr in Fort Myers. The property spans approximately 3.2 acres and is owned by Westside Capital, with Jakub Hejl serving as the landlord. The loan was provided by Ladder Capital Corp. and has a term of four years with a floating-rate.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $47,100,000
- Address: 2500 Edwards Dr
- Market: Fort Myers
- Asset Type: Condo
- Acres: 3.2
The brokers involved in the deal were Charles Foschini and Christopher Apone, representing Berkadia. They played a crucial role in facilitating the transaction between the buyer and seller. This acquisition loan provides Westside Capital, led by Jakub Hejl, the necessary funds to acquire the condo property located at 2500 Edwards Dr.
On the Map
$47,100,000
$154/SF
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Players
Fort Myers CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93