GMF Capital Acquires Multifamily Property In Lithia, FL For $53M Loan
13930 Spector Road, Lithia, FL, USA
$53,000,000
$194/SF
Building Size
272,000 SF
Asset Type
MultiFamily
Closing
Oct 7, 2021
AI
A multifamily property located at 13930 Spector Road in Lithia, FL has been involved in a recent transaction. The property spans approximately 272,000 square feet and consists of 260 units.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Market: Lithia, FL
- Address: 13930 Spector Road
- Units: 260
The loan for this transaction was provided by Sound Point Capital, represented by Jordan Heller. The landlord, GMF Capital, was represented by Jared Frydman and Alejandro Ramirez. The deal was facilitated by brokers Elliot Throne, Jesse Wright, Brian Gaswirth, and Kenny Cutler from JLL.
Players
Lithia 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93