Goldman Sachs Provides $97M Construction Loan For Palmetto Multifamily Property
10405 Carter Road, Bradenton
$97,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 13, 2024
AI
The multifamily property located at 10405 Carter Road in Palmetto, FL, with a total of 610 units, was involved in a recent transaction. The loan amount for this deal was $97,000,000, provided by Goldman Sachs Private Bank. The landlord for this property is Mahaffey Apartment Company, and the market where this asset is situated is Bradenton.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $97,000,000
- Address: 10405 Carter Road, Palmetto, FL
- Market: Bradenton
- Lender: Goldman Sachs Private Bank
- Landlord: Mahaffey Apartment Company
- Brokers: Bryan Brown, Mitch Sinberg, Brad Williamson, Scott Wadler & Matt Robbins - Berkadia
- Loan Type: Construction
The key individuals involved in this transaction included Mitch Sinberg, Brad Williamson, Bryan Brown, Matt Robbins, and Scott Wadler. They represented the parties as brokers from Berkadia in this deal.
Players
Palmetto 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93