Updated Oct 29, 2024
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
About this deal
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.
On the Map
$38,000,000
MultiFamily
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Players
Fort Walton Beach 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93