Updated May 12, 2025
Jerry Zevenbergen Secures $1.4M Bridge Loan For Multifamily Property At 103 Cactus Street In Tallahassee
103 Cactus Street, Tallahassee, Florida 32304, United States
$1,400,000
$79/SF
Building Size
17,550 SF
Asset Type
MultiFamily
Closing
Jul 19, 2022
About this deal
AI
The asset involved in this transaction is a multifamily property located at 103 Cactus Street in the Tallahassee market. It comprises 24 units with a total square footage of 17,550. The bridge loan amount for this property is $1,400,000, with a loan term set for 12 months.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Loan Type: Bridge Loan
- Loan Terms: 12-month term
- Lender: Avatar Financial Group - Jerry Zevenbergen
Key individuals involved in this transaction include Jerry Zevenbergen, representing Avatar Financial Group as the lender for the loan. The transaction highlights the financing arrangement facilitated by a bridge loan tailored for multifamily real estate investment.
Players
Tallahassee 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93