The Praedium Group Secures $47.8M Loan For Multifamily Property In Plantation
FINANCED
$47,780,000
Florida
See Similar DealsMultiFamily14,704 SF
Financed 12/29/2020
FINANCED
The Praedium Group Secures $47.8M Loan For Multifamily Property In Plantation
150 Southwest 91st Avenue, Plantation, FL, USA
See Similar DealsMultiFamily14,704 SF
Financed 12/29/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$3,249
Total Square Footage:14,704 SF
Transaction Type:Loan
The multifamily property located at 150 Southwest 91st Avenue in Plantation has been involved in a recent transaction. The loan for this property was provided by berkadia''>berkadia'>Berkadia/Freddie Mac. The loan amount is $47,780,000, and it has a seven-year fixed-rate term with five years of interest-only payments. The loan-to-value ratio is 65 percent.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,780,000
- Address: 150 Southwest 91st Avenue
- Market: Plantation
- Lender: Berkadia/Freddie Mac
- Landlord: The Praedium Group
- Brokers: Charles Foschini & Christopher Apone - Berkadia
Charles Foschini & Christopher Apone from Berkadia played a crucial role as brokers in this deal, representing the parties involved in the transaction.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,780,000.00
Monthly NOI$318,533.33
Monthly Debt Service$302,002.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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