New York Life Issues $47.5M Loan For Mixed-Use Property In Maitland
190 Independence Lane, Maitland, FL, USA
$47,500,000
$197/SF
Building Size
240,000 SF
Asset Type
Mixed-use
Closing
Jan 4, 2021
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 190 Independence Lane in the market of Maitland. The transaction took place on January 5, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $47,500,000
- Lender: New York Life - Randall Hall
- Landlord: The Allen Morris Company (AMCO) - W. Allen Morris & W.A. Spencer Morris & Mesirow Institutional Real Estate Direct Investments
- Broker: Walker & Dunlop
The lender in this transaction was New York Life with Randall Hall representing them. The landlord was The Allen Morris Company (AMCO), represented by W. Allen Morris, W.A. Spencer Morris, and Mesirow Institutional Real Estate Direct Investments. The broker involved in the deal was Walker & Dunlop.
Players
Maitland Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93