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10405 Carter Road, Bradenton

Goldman Sachs Provides $97M Construction Loan For Palmetto Multifamily Property
FINANCEDMultiFamily

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

Brad Williamson

Berkadia

Broker

$7B

vol

111 deals

Broker
Goldman Sachs
Goldman SachsLender

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