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ZMR Capital Secures $42.5 Million Bridge Loan From Nuveen Real Estate For Kissimmee Multifamily Asset

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FINANCED
$42,500,000
Mitch Sinberg
Matthew (Matt) Robbins
+ 2

Florida

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MultiFamily216 SF
Financed 11/08/2024
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FINANCED

ZMR Capital Secures $42.5 Million Bridge Loan From Nuveen Real Estate For Kissimmee Multifamily Asset

1300 Santa Rosa Drive

See Similar Deals
MultiFamily216 SF
Financed 11/08/2024
Mitch Sinberg
Matthew (Matt) Robbins
+ 2
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$196,759
Total Square Footage:216 SF
Transaction Type:Loan

The property asset involved in this transaction is a multifamily unit comprising 216 units located at 1300 Santa Rosa Drive in Kissimmee. The loan amount secured for this property is $42,500,000, provided by Nuveen Real Estate. The structure is financed through a bridge loan with a three-year term, featuring a floating interest rate and two one-year extension options, along with full-term interest-only payments at a 68% loan-to-value ratio.

Summary of transaction details:

The transaction features a collaborative effort from a team of brokers representing the deal, specifically Brad Williamson, Wesley Moczul, Mitch Sinberg, Matthew Robbins, and Scott Wadler from Berkadia. ZMR Capital serves as the landlord in this multifamily property transaction, engaging with Nuveen Real Estate as the lender to secure the specified financing for the asset.

Players

Brad Williamson
107 deals$6.8B volume(786) 646-2580
BROKER

Mitch Sinberg
Berkadia
131 deals$8.3B volume(561) 609-4006
BROKER

Matthew (Matt) Robbins
Berkadia
113 deals$6.8B volume
BROKER

Scott Wadler
Berkadia
160 deals$9.8B volume
BROKER

Wesley Moczul
Berkadia
20 deals$905.2M volume
BROKER

Nuveen
LENDER

Details

FINANCED
IMAGE: Wesley Moczul, Mitch Sinberg, Brad Williamson, Scott Wadler, Zamir Kazi & Matthew Robbins DATE: 11/08/2024 ADDRESS: 1300 Santa Rosa Drive MARKET: Kissimmee ASSET TYPE: Multifamily ~ UNITS: 216 LENDER: Nuveen Real Estate (@Nuveeninv) LANDLORD: ZMR Capital BROKERS: Brad Williamson, Wesley Moczul (@WMoczul), Mitch Sinberg (@MitchSinberg), Matthew Robbins & Scott Wadler (@SWadler1) - Berkadia (@Berkadia) LOAN AMOUNT: $42,500,000 LOAN TYPE: Bridge LOAN TERMS: three-year, floating-rate loan with two one-year extension options and full-term interest only at a 68% loan to value

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,500,000.00

Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00