BBVA USA & BlackRock Provides $63M Loan For 324-Unit Multifamily Property In Tampa
FINANCED
$63,000,000
Florida
See Similar DealsMultiFamily1,358 SF
Financed 09/18/2020
FINANCED
BBVA USA & BlackRock Provides $63M Loan For 324-Unit Multifamily Property In Tampa
1115 E Twiggs St, Tampa, FL 33602, USA
See Similar DealsMultiFamily1,358 SF
Financed 09/18/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$46,391
Total Square Footage:1,358 SF
Transaction Type:Loan
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
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,000,000.00
Monthly NOI$420,000.00
Monthly Debt Service$398,202.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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