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1000 Palm Pl Dr NE, Palm Ba...

KeyBank Provides $34M Loan For Palm Bay Multifamily Property
FINANCEDMultiFamily

KeyBank Provides $34M Loan For Palm Bay Multifamily Property

1000 Palm Pl Dr NE, Palm Bay, FL 32905, USA

$34,000,000

$10,625/SF

Building Size

3,200 SF

Asset Type

MultiFamily

Closing

Aug 18, 2020

AI

The multifamily property located at 1000 Palm Place Drive Northeast in Palm Bay has successfully closed a transaction. The property, owned by American Landmark Apartments and represented by Christine DeFilippis, attracted a loan from KeyBank Real Estate Finance in the amount of $34,000,000. This transaction encompasses a total of 320 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,000,000
  • Address: 1000 Palm Place Drive Northeast
  • Market: Palm Bay
  • Landlord: American Landmark Apartments - Christine DeFilippis
  • Lender: KeyBank Real Estate Finance
  • Units: 320

This successful transaction involving the multifamily property at 1000 Palm Place Drive Northeast in Palm Bay was made possible through the loan provided by KeyBank Real Estate Finance. Representing the landlord, American Landmark Apartments, Christine DeFilippis played a significant role in facilitating the deal.

Players

Christine DeFilippis

American Landmark Apartments

Landlord

$281.1M

vol

6 deals

Landlord

Palm Bay MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93