Jerry Zevenbergen Secures $1.4M Bridge Loan For Multifamily Property At 103 Cactus Street In Tallahassee
FINANCED
$1,400,000
Florida
See Similar DealsMultiFamily17,550 SF
Financed 07/20/2022
FINANCED
Jerry Zevenbergen Secures $1.4M Bridge Loan For Multifamily Property At 103 Cactus Street In Tallahassee
103 Cactus Street, Tallahassee, Florida 32304, United States
See Similar DealsMultiFamily17,550 SF
Financed 07/20/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$79
Total Square Footage:17,550 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,400,000.00
Monthly NOI$9,333.33
Monthly Debt Service$8,848.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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