Updated Oct 29, 2024
Affiliated Development Acquires Lake Worth Beach Multifamily For $35M Loan
North Dixie Highway, Lake Worth, FL, USA
$35,000,000
Units
230
Asset Type
MultiFamily
Closing
Dec 19, 2019
About this deal
AI
An multifamily property located at 16th Avenue-North Dixie Highway in Lake Worth Beach was recently involved in a closed transaction. The transaction took place on 12/20/2019, and the property consists of 230 units. The deal was financed by Trez Forman, who provided a loan amount of $35,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Address: 16th Avenue-North Dixie Highway
- Market: Lake Worth Beach
- Units: 230
- Lender: Trez Forman
- Landlord: Affiliated Development - Jeff Burns, Nick Rojo
Affiliated Development, represented by Jeff Burns and Nick Rojo, served as the landlord in this transaction. They were responsible for overseeing the deal and ensuring its successful completion.
On the Map
$35,000,000
MultiFamily
View full map
Players
Lake Worth Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Nick Rojo to view all their deals.
Browse Lake Worth Beach multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93