Updated Oct 28, 2024
Freddie Mac Provides $17.87M Loan For Multifamily Property In Port St. Lucie
150 Southwest Hidden Cove Way, Port Saint Lucie, Florida 34986, United States
$17,870,000
Units
91
Asset Type
MultiFamily
Closing
Aug 15, 2022
About this deal
AI
The multifamily property located at 150 Southwest Hidden Cove Way in Port St. Lucie has recently undergone a recapitalization. The property consists of 91 units and is owned by Rich Properties. The loan for this transaction was provided by Freddie Mac.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,870,000
- Loan Type: Recapitalization
- Loan Terms: 10-year loan with five years of interest only
Mitch Sinberg, Matt Robbins, and Abigail Beuchamp from Berkadia served as brokers for the deal.
Players
Port Saint Lucie 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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93