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Preferred Apartment Communities, Inc. Acquires Multifamily Property In Jacksonville For $16.6M

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FINANCED
$16,600,000

Florida

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MultiFamily1,360 SF
Financed 10/22/2021
the dealdetailscomps
Property Image
FINANCED

Preferred Apartment Communities, Inc. Acquires Multifamily Property In Jacksonville For $16.6M

11390 Square St, Jacksonville, FL, USA

See Similar Deals
MultiFamily1,360 SF
Financed 10/22/2021
the dealdetailscomps

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$12,205
Total Square Footage:1,360 SF
Transaction Type:Loan

The multifamily property located at 11390 Square St in Jacksonville has been involved in a recent closed transaction. The property consists of 337 units and is owned by Preferred Apartment Communities, Inc., with John Isakson serving as the landlord.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,600,000 (Approx.)
  • Address: 11390 Square St, Jacksonville
  • Market: Jacksonville
  • Units: 337

The transaction involved a construction loan of approximately $16,600,000. The loan type is construction, indicating that it was specifically secured for the purpose of financing the construction or development of the property.

Details

FINANCED
IMAGE: John Isakson DATE: 10/22/2021 ADDRESS: 11390 Square St MARKET: Jacksonville ASSET TYPE: Multifamily ~ UNITS: 337 LANDLORD: Preferred Apartment Communities, Inc. - John Isakson LOAN AMOUNT: $16,600,000 (Approx.) LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,600,000.00

Monthly NOI$110,666.67
Monthly Debt Service$104,923.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00