Updated Oct 28, 2024
WTI Capital Secures $54.8M Loan For Multifamily Property At 15270 Ballast Point Drive
15270 Ballast Point Drive, Fort Myers, Florida 33908, United States
$54,800,000
Units
325
Asset Type
MultiFamily
Closing
Sep 21, 2022
About this deal
AI
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.
On the Map
$54,800,000
MultiFamily
View full map
Players
Fort Myers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Kyle Schlitt 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93