Updated Mar 4, 2026
Procopio Companies & Southern Waters Capital Secures $6.4M Bridge Loan From Brora Capital
1425 Huey Street
$6,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 25, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily asset located at 1425 Huey Street in the Wildwood market. The total loan amount secured for this property is $6,400,000 through a bridge loan. The asset is managed by Procopio Companies and Southern Waters Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,400,000
- Lender: Ignacio Diaz, Jose Padua Jr, Ben Gluck & Todd Richardson - Brora Capital
- Landlord: Procopio Companies & Southern Waters Capital
- Loan Type: Bridge
- Date of Transaction: 09/26/2025
- Address: 1425 Huey Street
- Market: Wildwood
This transaction involved key individuals from Brora Capital, specifically Ignacio Diaz, Jose Padua Jr, Ben Gluck, and Todd Richardson, who facilitated the loan. Procopio Companies and Southern Waters Capital represent the interests of the landlord in this transaction.
On the Map
$6,400,000
MultiFamily
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Players
Wildwood 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93