Lee Schwartz Of Sheridan Capital Provides $21.9M Bridge Loan For Tampa Multifamily Asset
FINANCED
$21,900,000
Florida
See Similar DealsMultiFamily1 SF
Financed 01/23/2025
FINANCED
Lee Schwartz Of Sheridan Capital Provides $21.9M Bridge Loan For Tampa Multifamily Asset
12401 North 15th Street
See Similar DealsMultiFamily1 SF
Financed 01/23/2025
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$21,900,000
Total Square Footage:1 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,900,000.00
Monthly NOI$146,000.00
Monthly Debt Service$138,422.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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