KeyBank Provides $34M Loan For Palm Bay Multifamily Property
FINANCED
$34,000,000
Florida
See Similar DealsMultiFamily3,200 SF
Financed 08/19/2020
FINANCED
KeyBank Provides $34M Loan For Palm Bay Multifamily Property
1000 Palm Pl Dr NE, Palm Bay, FL 32905, USA
See Similar DealsMultiFamily3,200 SF
Financed 08/19/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$10,625
Total Square Footage:3,200 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,000,000.00
Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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