Venterra Realty Secures $38.3M Loan For Multifamily Property In Jacksonville
FINANCED
$38,300,000
Florida
See Similar DealsMultiFamily23,994 SF
Financed 02/03/2021
FINANCED
Venterra Realty Secures $38.3M Loan For Multifamily Property In Jacksonville
13700 Sutton Park Drive North, Jacksonville, FL, USA
See Similar DealsMultiFamily23,994 SF
Financed 02/03/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,596
Total Square Footage:23,994 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily development located at 13700 Sutton Park Drive N. in Jacksonville. The asset comprises 280 units and has been financed through a loan amounting to $38,300,000 with a loan term of 10 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,300,000
- Loan Terms: 10-year loan
- Lender: Freddie Mac - David Brickman
- Landlord: Venterra Realty - John Foresi
- Broker: Walker & Dunlop - Willy Walker
This transaction reflects the collaboration between key figures in the real estate finance sector. David Brickman represents Freddie Mac, while John Foresi acts on behalf of Venterra Realty. Willy Walker serves as the broker from Walker & Dunlop, facilitating the loan process for the multifamily property.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,300,000.00
Monthly NOI$255,333.33
Monthly Debt Service$242,082.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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