Updated Jan 28, 2025
Lee Schwartz Of Sheridan Capital Provides $21.9M Bridge Loan For Tampa Multifamily Asset
12401 North 15th Street
$21,900,000
$21,900,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Jan 23, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property situated at 12401 North 15th Street in Tampa, with a loan amount of $21,900,000 secured as a bridge loan. The property is positioned in a market conducive to multifamily investments, although specific characteristics and square footage details are not provided.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,900,000
- Lender: Lee Schwartz - Sheridan Capital
- Loan Type: Bridge
- Date: 01/23/2025
The transaction was facilitated by Lee Schwartz, representing Sheridan Capital, highlighting the involvement of experienced financial backing in the deal. The lender's expertise in multifamily bridge loans underscores the strategic approach to funding this asset.
On the Map
$21,900,000
$21,900,000/SF
MultiFamily
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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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93