Updated Oct 28, 2024
KeyBank Provides $69.8M Loan For St. Petersburg Multifamily Property
1245 Jordan Park Street South, St. Petersburg, Florida 33712, United States
$69,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 1, 2022
About this deal
AI
The loan for a multifamily property situated at 1245 Jordan Park St S in St. Petersburg has been finalized. The property spans across 24 acres in the market of St. Petersburg. The lender for this transaction was keybank-''>KeyBank Community Development Lending and Investment & KeyBank Real Estate Capital. The loan amount secured for this transaction was $69,800,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $69,800,000
- Address: 1245 Jordan Park St S
- Market: St. Petersburg
- Lender: KeyBank Community Development Lending and Investment & KeyBank Real Estate Capital
The landlords involved in this transaction were Norstar Development USA-CDL and St. Petersburg Housing Authority.
Players
Saint Petersburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93