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13930 Spector Road, Lithia,...

GMF Capital Acquires Multifamily Property In Lithia, FL For $53M Loan
FINANCEDMultiFamily

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

Brian Gaswirth

JLL

Broker

$6.3B

vol

45 deals

Broker
Sound Point Capital Management
Sound Point Capital ManagementLender

Jared Frydman

GMF Capital

Landlord

$421.6M

vol

5 deals

Landlord
GMF Capital
GMF CapitalLandlord

Lithia MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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