Updated Oct 29, 2024
Stormfield Capital Closes $5.25M Bridge Loan For MultiFamily Property In Jacksonville
1650 River Road
$5,250,000
$122/SF
Building Size
43,050 SF
Asset Type
MultiFamily
Closing
Apr 7, 2023
About this deal
AI
The property involved in this transaction is a multi-family asset located at 1650 River Road in Jacksonville. The property consists of 54 units with a total square footage of 43,050. The transaction took place on 04/07/2023.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $5,250,000
- Lender: Stormfield Capital - James Weissenborn & Kyle Shea
- Landlord: Six Four Asset Management
- Loan Type: Bridge Loan
James Weissenborn and Kyle Shea from Stormfield Capital served as the lenders for this transaction. The loan amount provided was $5,250,000. Six Four Asset Management acted as the landlord in this deal. It is worth noting that Stormfield Capital closed this transaction in just 8 business days.
Players
Market 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93