Updated Nov 27, 2024
Berkadia/HUD Provides $52.5M Construction Loan For Orlando Multifamily Project
19463 Boggy Creek Road, Orlando, FL 32832, USA
$52,522,400
$430/SF
Building Size
122,000 SF
Asset Type
MultiFamily
Closing
Nov 8, 2020
About this deal
AI
A multifamily property located at 19463 Boggy Creek Road in Orlando recently secured a $52,522,400 construction loan. The loan was provided by berkadia''>Berkadia/HUD, with Mitch Sinberg and Jared Hill representing the lender. The loan terms include a 40-year amortization period and a fixed interest rate. The loan-to-cost ratio is set at 85 percent.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $52,522,400
- Lender: Berkadia/HUD - Mitch Sinberg & Jared Hill
- Landlord: FUTURA
FUTURA, the landlord, successfully secured the 221(d)(4) 40-year amortized construction loan with the assistance of Mitch Sinberg and Jared Hill from Berkadia/HUD. The loan amount represents 85 percent of the total project cost, providing the necessary funding for the multifamily property located at 19463 Boggy Creek Road in Orlando.
Players
Orlando 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93