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Westside Capital Group Secures $31.5M Loan For Mixed-Use Property In MetroWest Orlando

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FINANCED
$31,500,000

Florida

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Mixed-use1,857,880 SF
Financed 05/29/2020
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Property Image
FINANCED

Westside Capital Group Secures $31.5M Loan For Mixed-Use Property In MetroWest Orlando

2121 S Hiawassee Rd, Orlando, FL 32835, USA

See Similar Deals
Mixed-use1,857,880 SF
Financed 05/29/2020
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$17
Total Square Footage:1,857,880 SF
Transaction Type:Loan

Westside Capital Group has closed on a mixed-use property located at 2121 South Hiawassee Road in MetroWest Orlando. The transaction was facilitated by brokers Charles Foschini and Christopher Apone.

Summary of transation details

  • Property Type: Mixed-Use
  • Transaction Amount: $31,500,000
  • Loan Terms: 10-year, fixed-rate loan with partial interest only at a 70 percent loan to value
  • SF: 185,788 (residential), 48,385 (commercial)
  • Units: 150

The property is a mixed-use development combining residential and commercial units. The residential portion spans 185,788 square feet, while the commercial space occupies 48,385 square feet. The transaction, valued at $31,500,000, involved a 10-year fixed-rate loan with partial interest only at a 70 percent loan to value. The property's address is 2121 South Hiawassee Road in MetroWest Orlando.

Westside Capital Group enlisted the expertise of brokers Charles Foschini and Christopher Apone to facilitate the transaction. Their professional guidance helped ensure the deal's smooth execution and successful closing.

Players

Charles Foschini
57 deals$3.1B volume(305) 267-6608
BROKER

Christopher (Chris) Apone
Berkadia
49 deals$2.4B volume
BROKER

Westside Capital Group
LANDLORD

Details

FINANCED
IMAGE: Charles Foschini & Christopher Apone DATE: 05/29/2020 ADDRESS: 2121 South Hiawassee Road MARKET: MetroWest Orlando ASSET TYPE: Mixed-Use LANDLORD: Westside Capital Group BROKERS: Charles Foschini, Christopher Apone – […] LOAN AMOUNT: $31,500,000 LOAN TERMS: 10-year, fixed-rate loan with partial interest only at a 70 percent loan to value. SF: 185,788 (residential), 48,385 (commercial) UNITS: 150

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,500,000.00

Monthly NOI$210,000.00
Monthly Debt Service$199,101.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00