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10900 NW 17th St, Plantatio...

Atlantic Pacific Companies & LEM Capital Acquire MultiFamily Property In Plantation For $52.9M Loan Provided By Freddie Mac
FINANCEDMultiFamily

Atlantic Pacific Companies & LEM Capital Acquire MultiFamily Property In Plantation For $52.9M Loan Provided By Freddie Mac

10900 NW 17th St, Plantation, FL 33322, United States

$52,896,000

Building Size

Asset Type

MultiFamily

Closing

Jul 12, 2023

AI

The Atlantic Preserve, located at 10900 NW 17th St in Plantation, is a multi-family property with 293 units. The property was recently involved in an acquisition loan transaction.

Summary of transaction details:

The loan, provided by Freddie Mac, amounted to $52,896,000. The Atlantic Preserve is owned by Atlantic Pacific Companies and LEM Capital, with their representatives, Mitch Sinberg, Brad Williamson, Matthew (Matt) Robbins, Scott Wadler, and Abigail Beauchamp from Berkadia, handling the deal. The loan is an adjustable-rate loan with a 10-year term.

Players

Brad Williamson

Berkadia

Broker

$7B

vol

111 deals

Broker
Freddie Mac
Freddie MacLender

Miami 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

0.30%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93