Affiliated Development Acquires Multifamily Property In Lake Worth Beach With $34.1M Construction Loan
FINANCED
Florida
See Similar DealsMultiFamily3,181 SF
Financed 03/31/2021
FINANCED
Affiliated Development Acquires Multifamily Property In Lake Worth Beach With $34.1M Construction Loan
1017 Lake Ave, Lake Worth, FL, USA
See Similar DealsMultiFamily3,181 SF
Financed 03/31/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$10,719
Total Square Footage:3,181 SF
Transaction Type:Loan
1017 Lake Ave, located in Lake Worth Beach, has recently undergone a closed property transaction. The asset involved in this transaction is a multifamily property. The loan obtained for this transaction is a construction loan, with a loan amount of $34,100,000. The lender responsible for providing this loan is Bank United.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $34,100,000
- Address: 1017 Lake Ave
- Market: Lake Worth Beach
- Lender: Bank United
Affiliated Development, represented by Nick Rojo and Jeff Burns, acted as the landlord in this transaction. They played a crucial role in facilitating the deal for the multifamily property located at 1017 Lake Ave in Lake Worth Beach.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,100,000.00
Monthly NOI$227,333.33
Monthly Debt Service$215,535.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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