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1001 E Osceola Pkwy Kissimm...

FINANCEDMultiFamily

PCCP LLC Provides $67.8M Loan For Parkway Crossings In Kissimmee

1001 E Osceola Pkwy Kissimmee, FL 34744, USA

$67,800,000

Units

309

Asset Type

MultiFamily

Closing

Jun 7, 2023

AI

The development site located at 1001 East Osceola Parkway in Kissimmee, Florida has secured financing for its construction. PCCP LLC has provided a loan amount of $67,800,000 for the development of Parkway Crossings, a 309-unit upscale apartment property. The property, developed by Fore Property Co., features amenities such as a fitness center, swimming pool, smart-home technology, and electric-vehicle chargers.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $67,800,000
  • Address: 1001 East Osceola Parkway
  • Market: Kissimmee
  • Asset Type: Development Site
  • Acres: 6
  • Lender: PCCP LLC
  • Landlord: Fore Property Co. - Richard Fore
  • Loan Type: Construction Loan

PCCP LLC, the lender in this transaction, has provided the necessary financing for the development. Fore Property Co., represented by Richard Fore, is the landlord overseeing the project. The development site offers upscale apartments equipped with modern amenities like a fitness center, swimming pool, smart-home technology, and electric-vehicle chargers.

Players

Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)Lender

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93