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WTI Capital Secures $54.8M Loan For Multifamily Property At 15270 Ballast Point Drive

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FINANCED
$54,800,000
Alexis Ashley-Pierre
Kyle Schlitt
James Maynard
+ 2

Florida

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MultiFamily
Financed 09/22/2022
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FINANCED

WTI Capital Secures $54.8M Loan For Multifamily Property At 15270 Ballast Point Drive

15270 Ballast Point Drive, Fort Myers, Florida 33908, United States

See Similar Deals
MultiFamily
Financed 09/22/2022
Alexis Ashley-Pierre
Kyle Schlitt
James Maynard
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

A multifamily property located at 15270 Ballast Point Drive in Fort Myers has been involved in a recent loan transaction. The property consists of 325 units, making it a significant asset in the market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $54,800,000
  • Date: 09/22/2022
  • Address: 15270 Ballast Point Drive
  • Market: Fort Myers
  • Units: 325

WTI Capital serves as the landlord of the property. The loan for this transaction was facilitated by Newmark brokers Matthew Williams, James Maynard, Kyle Schlitt, Robert Wright, and Alexis Ashley-Pierre. The loan amount secured for the property was $54,800,000 with a 10-year fixed-rate term. The loan terms also include interest-only payments.

Players

Matthew (Matt) Williams
Newmark
Matthew Williams
12 deals$956.3M volume
BROKER
Kyle Schlitt
Newmark
Kyle Schlitt
11 deals$728.7M volume
BROKER
James Maynard
Newmark
James Maynard
10 deals$999.4M volume
BROKER
Robert (Rob) Wright
Newmark
Robert Wright
5 deals$225.2M volume
BROKER
Alexis Ashley-Pierre
Newmark
Alexis Ashley-Pierre
1 deal$54.8M volume
BROKER

Details

FINANCED
IMAGE: Matthew Williams, James Maynard & Kyle Schlitt DATE: 09/22/2022 ADDRESS: 15270 Ballast Point Drive MARKET: Fort Myers ASSET TYPE: Multifamily ~ UNITS: 325 LANDLORD: WTI Capital BROKERS: Matthew Williams, James Maynard, Kyle Schlitt (@SchlittKyle), Robert Wright & Alexis Ashley-Pierre - Newmark (@Newmark) LOAN AMOUNT: $54,800,000 LOAN TERMS: 10-year, fixed-rate loan with interest-only payments

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$54,800,000.00

Monthly NOI$365,333.33
Monthly Debt Service$346,373.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00