Updated Oct 28, 2024
Mesa West Recapitalizes Boynton Beach Multifamily With $49.2M Loan
1625 Renaissance Commons Boulevard, Boynton Beach, Florida 33426, United States
$49,240,000
Units
219
Asset Type
MultiFamily
Closing
Aug 29, 2022
About this deal
AI
The multifamily property located at 1625 Renaissance Commons Blvd in Boynton Beach, Florida, recently went through a recapitalization transaction. The property spans over 2.5 acres and consists of 219 units. The transaction took place on 08/30/2022.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $49,240,000
- Market: Boynton Beach
- Number of Units: 219
- Total Acres: 2.5
Mesa West Capital, represented by Russell Frahm, Brian Hahn, and Jacob Rosen, provided the loan for the recapitalization of the property. The landlord of the asset is ESG Kullen and Angelo Gordon. The broker facilitating the deal was Michael Lupo from CCL Capital.
On the Map
$49,240,000
MultiFamily
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Players
Boynton 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93