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1200 Crosswinds Landing, Fo...

Vantage Point Acquisitions Acquires Fort Walton Beach Multifamily For $38M
FINANCEDMultiFamily

Vantage Point Acquisitions Acquires Fort Walton Beach Multifamily For $38M

1200 Crosswinds Landing, Fort Walton Beach, FL, USA

$38,000,000

Building Size

Asset Type

MultiFamily

Closing

Feb 29, 2020

AI

Three properties located at 1200 Crosswinds Landing, 1792 Lewis St, and 1497 Pine Road N in Fort Walton Beach have been acquired in a recent transaction. The properties are categorized as multifamily assets and were purchased by Vantage Point Acquisitions.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $38,000,000
  • Address: 1200 Crosswinds Landing, 1792 Lewis St, and 1497 Pine Road N
  • Market: Fort Walton Beach

The acquisition was facilitated through a loan provided by Fannie Mae. Berkadia represented both the buyer, Vantage Point Acquisitions, and the seller in this transaction. Mitch Sinberg and Matthew Robbins, acting as brokers from Berkadia, played a crucial role in the deal's negotiation and completion.

Players

Mitch Sinberg

Berkadia

Broker

$8.6B

vol

140 deals

Broker
Fannie Mae
Fannie MaeLender

Fort Walton Beach 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

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93