Axonic Properties Acquires Multifamily Property In Lutz For $57.5M With KeyBank Loan
15115 Livingston Ave
Building Size
476,702 SF
Asset Type
MultiFamily
Closing
Jul 4, 2022
AI
The property involved in this transaction is a multifamily asset located at 15115 Livingston Ave in Lutz, featuring a total square footage of 476,702 and comprising 312 units. The loan amount secured for this acquisition is $57,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $57,500,000
- Asset Address: 15115 Livingston Ave
- Market: Lutz
- Lender: KeyBank - Alan Isenstadt
- Landlord: Axonic Properties - Jonathan Shechtman & Brian Kennedy
- Loan Type: Acquisition
The deal involved key individuals including Alan Isenstadt representing KeyBank as the lender, while Axonic Properties was represented by Jonathan Shechtman and Brian Kennedy, marking a significant collaboration in the multifamily sector.
Players
Lutz 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93