Updated Oct 29, 2024
BBVA USA & BlackRock Provides $63M Loan For 324-Unit Multifamily Property In Tampa
1115 E Twiggs St, Tampa, FL 33602, USA
$63,000,000
$46,391/SF
Building Size
1,358 SF
Asset Type
MultiFamily
Closing
Sep 17, 2020
About this deal
AI
The multifamily property located at 1115 E. Twiggs Street in Tampa has been involved in a closed transaction. The loan for this property was provided by BBVA USA and blackrock''>BlackRock, with a loan amount of $63,000,000. The property is owned by ECI Group and Mercury Advisors. It consists of 324 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Lender: BBVA USA & BlackRock
- Landlord: ECI Group & Mercury Advisors
- Broker: Chip Sykes – JLL
The broker representing this transaction is Chip Sykes from JLL.
Players
Tampa 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93