Updated Oct 29, 2024
Freddie Mac Provides $42.7M Loan For Multifamily Property In St. Petersburg
10475 Gandy Blvd N, St. Petersburg, FL, USA
$42,700,000
$373/SF
Building Size
114,476 SF
Asset Type
MultiFamily
Closing
Mar 21, 2021
About this deal
AI
The multifamily property located at 10475 Gandy Blvd North in St. Petersburg was involved in a closed transaction on March 22, 2021. The property, consisting of 295 units, was the subject of a loan provided by Freddie Mac.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $42,700,000
- Market: St. Petersburg
- Lender: Freddie Mac
- Landlord: Carroll Organization & LCOR Inc.
- Broker: JLL
The loan, amounting to $42,700,000, offered a term of 10 years. The lender, Freddie Mac, facilitated the transaction for the multifamily property owned by Carroll Organization & LCOR Inc. The deal was brokered by JLL. This transaction highlights the collaboration between industry professionals in successfully financing the acquisition of this multifamily asset.
Players
Saint Petersburg 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93