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Bank Of America Provides $70.76M Bridge Loan For Mixed-Use Property In Orlando

Property Image
FINANCED
$70,760,000

Florida

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Mixed-use101,184 SF
Financed 12/08/2021
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Property Image
FINANCED

Bank Of America Provides $70.76M Bridge Loan For Mixed-Use Property In Orlando

601 West Livingston Street, Orlando, FL, USA

See Similar Deals
Mixed-use101,184 SF
Financed 12/08/2021
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Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$699
Total Square Footage:101,184 SF
Transaction Type:Loan

601 West Livingston Street, located in Orlando, was recently involved in a closed property transaction. The property is a mixed-use development that includes student housing, academic space, and retail. This transaction was facilitated by the loan provided by Bank of America.

Summary of transaction details

  • Property Type: Mixed use (Student Housing, Academic Space & Retail)
  • Transaction Amount: $70,760,000
  • Lender: Bank of America

The deal was negotiated by Michael Weinberg, Rebecca Van Reken, and Alec Fox from the brokerage firm Berkadia. They represented the interests of the parties involved, including Development Ventures Group, Ustler Development, and Halstatt Real Estate Partners, who acted as the landlords in this transaction. The loan obtained for this transaction is of the Bridge type.

Players

Michael Weinberg
21 deals$933.1M volume
BROKER

Rebecca Van Reken
Berkadia
7 deals$406.4M volume
BROKER

Alec Fox
Berkadia
27 deals$1.9B volume
BROKER

Bank of America
LENDER


Details

FINANCED
IMAGE: Alec Fox, Michael Weinberg & Rebecca Van Reken DATE: 12/08/2021 ADDRESS: 601 West Livingston Street MARKET: Orlando ASSET TYPE: Mixed use (Student Housing, Academic Space & Retail) LENDER: Bank of America LANDLORD: Development Ventures Group, Ustler Development, Halstatt Real Estate Partners BROKERS: Michael Weinberg, Rebecca Van Reken & Alec Fox - Berkadia LOAN AMOUNT: $70,760,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,760,000.00

Monthly NOI$471,733.33
Monthly Debt Service$447,251.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00