Updated Oct 29, 2024
GTIS Partners Secures $37.5M Acquisition Loan For Build For Rent MultiFamily In Port St. Lucie
10807 SW Tradition Sq
$37,500,000
Units
216
Asset Type
MultiFamily
Closing
Sep 13, 2023
About this deal
AI
The build for rent multifamily property located at 10807 SW Tradition Square in the Tradition Master Planned Community of Port St. Lucie has been involved in a recent loan transaction.
Summary of transaction details
- Property Type: Build for Rent MultiFamily
- Transaction Amount: $37,500,000
- Units: 216
- Lender: CIT Bank
- Landlord: GTIS Partners
The loan was provided by CIT Bank for the acquisition of the property in Port St. Lucie. The deal was facilitated by the brokerage firm Berkadia, with Scott Wadler, Matthew (Matt) Nihan, Brad Williamson, Mitch Sinberg, and Matthew (Matt) Robbins representing the parties involved in the transaction.
On the Map
$37,500,000
MultiFamily
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Players
Port Saint Lucie 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93