Amerant Bank Provides $27.69M Acquisition Loan For Multifamily Property In Palm Harbor
FINANCED
$27,690,000
Florida
See Similar DealsMultiFamily
Financed 09/16/2022
FINANCED
Amerant Bank Provides $27.69M Acquisition Loan For Multifamily Property In Palm Harbor
1697 Nantucket Court
See Similar DealsMultiFamily
Financed 09/16/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily/fractured condo property located at 1697 Nantucket Ct in Palm Harbor has recently undergone an acquisition. The property consists of 161 units and has been acquired by ESG Kullen, the landlord. The transaction was facilitated by brokers Charles Foschini and Chris Apone from Berkadia.
Summary of transaction details:
- Property Type: Multifamily/Fractured Condo
- Transaction Amount: $27,690,000
- Lender: Amerant Bank
- Landlord: ESG Kullen
- Brokers: Charles Foschini & Chris Apone - Berkadia
- Loan Type: Acquisition
The acquisition was made possible through a loan provided by Amerant Bank. The loan amount of $27,690,000 will support the acquisition of the property. This transaction highlights the significance of the property in the Palm Harbor market, with its 161 units providing valuable investment opportunities for ESG Kullen.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,690,000.00
Monthly NOI$184,600.00
Monthly Debt Service$175,019.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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