The John Hicks Company Secures $16.4M Loan For 180-Unit Multifamily Property In Venice
1050 Capri Isles Boulevard, Venice, Florida 34292, United States
$16,400,000
Building Size
—
Asset Type
MultiFamily
Closing
May 1, 2022
AI
The John Hicks Company has closed on a multifamily property transaction located at 1050 Capri Isles Blvd in Venice. The property consists of 180 units and was sold for a loan amount of $16,400,000. The deal was secured with a 10-year fixed-rate loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,400,000
- Address: 1050 Capri Isles Blvd
- Market: Venice
- Units: 180
Elliott Throne, Kenny Cutler, and Joshua Odessky from JLL Capital Markets represented The John Hicks Company as brokers in this transaction.
Players
Venice MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93