Updated Oct 28, 2024
The Hallmark Companies, Inc Acquires Multifamily Property In Fort Walton Beach For $17.6M
1600 Hunt Club Street, Fort Walton Beach, FL 32547
$17,592,000
$662/SF
Building Size
26,542 SF
Asset Type
MultiFamily
Closing
Jan 3, 2022
About this deal
AI
The Hallmark Companies, Inc, represented by Martin H. Petersen, has acquired a multifamily property located at 1600 Hunt Club St in Fort Walton Beach. The property consists of 168 units and was purchased with an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,592,000
- Loan Type: Acquisition Loan
The loan for this acquisition was provided by greystone''>Greystone, with Carter King representing the lender. The loan has a term of 10 years and a 30-year amortization schedule. It carries a variable interest rate and includes interest-only payments for the first five years.
Players
Fort Walton Beach 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
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93