Updated Oct 28, 2024
Rich Properties Secures $38.76M Fannie Mae Loan For 244-Unit Multifamily Property In Jacksonville
1462 Solera Terrace, Jacksonville, FL, USA
$38,760,000
$158,852/SF
Building Size
244 SF
Asset Type
MultiFamily
Closing
Sep 9, 2021
About this deal
AI
The address of the property involved in this transaction is 1462 Solera Terrace in Jacksonville. The property is a multifamily building with 244 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,760,000
- Loan Amount: $38,760,000
- Loan Terms: 10-year loan with a fixed interest rate and four years of interest-only payments
- Lender: Fannie Mae
- Landlord: Rich Properties
- Brokers: Mitch Sinberg & Matthew Robbins - Berkadia
The lender in this transaction is Fannie Mae. The property is owned by Rich Properties. The brokers involved in the deal are Mitch Sinberg and Matthew Robbins from Berkadia.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Mitch Sinberg to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93