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.
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