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3045 Southwest Port Saint L...

Diego Ojeda Of PSL Apartments Secures $4.675 Million Bridge Loan From Vertix Group In Port St. Lucie
FINANCEDDevelopment Site

Diego Ojeda Of PSL Apartments Secures $4.675 Million Bridge Loan From Vertix Group In Port St. Lucie

3045 Southwest Port Saint Lucie Boulevard

$4,675,000

Building Size

Asset Type

Development Site

Closing

Jun 27, 2024

AI

The property asset involved in the transaction is a development site located at 3045 SW Port St Lucie Blvd, Port St. Lucie, FL, with a building square footage of 320,340. The loan amount secured for this property is $4,675,000 consisting of a bridge loan arrangement.

Summary of transaction details:

Key individuals in the deal include Albert Arisso and Frank Hermosa, who represent the lender, Vertix Group. Diego Ojeda acts as the landlord on behalf of PSL Apartments, while brokers Javier Herrera and Nick Sumpter are affiliated with Franklin Street in this transaction.

Players

Javier Herrera

Franklin Street

Broker

$389.4M

vol

9 deals

Broker
Vertix Group
Vertix GroupLender

Port Saint Lucie Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.39%

Cash-on-Cash

-0.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93