Silver Tree Residential Secures $62.1M Loan For Fort Lauderdale Multifamily Property
FINANCED
$62,100,000
Florida
See Similar DealsMultiFamily168,870 SF
Financed 08/16/2021
FINANCED
Silver Tree Residential Secures $62.1M Loan For Fort Lauderdale Multifamily Property
1943 Northeast 6th Court, Fort Lauderdale, FL, USA
See Similar DealsMultiFamily168,870 SF
Financed 08/16/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$367
Total Square Footage:168,870 SF
Transaction Type:Loan
The multifamily property located at 1943 NE 6th Court in Fort Lauderdale has recently undergone a closed transaction. The property consists of 257 units and spans across 168,870 square feet. The loan for this transaction was facilitated by Grandbridge Real Estate Capital, with Brad Barnett representing the lender. The loan amount was $62,100,000. Silver Tree Residential is the landlord of this property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $62,100,000
- Units: 257
- Square Footage: 168,870
- Lender: Grandbridge Real Estate Capital - Brad Barnett
- Landlord: Silver Tree Residential
Brad Barnett from Grandbridge Real Estate Capital played a pivotal role in facilitating this transaction as the lender's representative. The involvement of Silver Tree Residential as the landlord further highlights the key individuals and companies involved in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,100,000.00
Monthly NOI$414,000.00
Monthly Debt Service$392,514.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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