Freddie Mac Provides $28.35M Acquisition Loan For 200-Unit Multifamily In Brandon
1002 Creekbridge Road, Brandon, FL, USA
$28,350,000
$3,407/SF
Building Size
8,320 SF
Asset Type
MultiFamily
Closing
Oct 18, 2021
AI
Bayshore Investment Partners has secured a $28,350,000 acquisition loan from Freddie Mac for the purchase of a multifamily property in Brandon. The property, located at 1002 Creekbridge Road and 1212 Andrew Drive, consists of 200 units. The loan terms include a seven-year full term with interest-only payments and a competitive fixed interest rate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,350,000
- Units: 200
- Lender: Freddie Mac
- Landlord: Bayshore Investment Partners
- Brokers: Mitch Sinberg & Brad Williamson - Berkadia
Mitch Sinberg and Brad Williamson from Berkadia represented Bayshore Investment Partners in this deal.
Players
Brandon 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93