Westside Capital Acquires Condo In Fort Myers With $47.1M Loan From Ladder Capital Corp
FINANCED
$47,100,000
Florida
See Similar Deals304,122 SF
Financed 09/10/2021
FINANCED
Westside Capital Acquires Condo In Fort Myers With $47.1M Loan From Ladder Capital Corp
2500 Edwards Drive, Fort Myers, FL, USA
See Similar Deals304,122 SF
Financed 09/10/2021
Summary
FLORIDA
Price Per Square Foot:$154
Total Square Footage:304,122 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,100,000.00
Monthly NOI$314,000.00
Monthly Debt Service$297,704.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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