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200 Northeast 1st Avenue

Updated Mar 12, 2025

Adache Real Estate Secures $59 Million Bridge Loan For 281-Unit Multifamily In Pompano Beach
FINANCEDMultiFamily

Adache Real Estate Secures $59 Million Bridge Loan For 281-Unit Multifamily In Pompano Beach

200 Northeast 1st Avenue

$59,000,000

Units

281

Asset Type

MultiFamily

Closing

Mar 12, 2025

About this deal

AI

200 Northeast 1st Avenue is a multifamily asset located in Pompano Beach, featuring a total of 281 units. The property is involved in a financial transaction with a loan amount of $59 million, structured with a three-year term and interest-only payments, along with extension options.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $59,000,000
  • Units: 281
  • Address: 200 Northeast 1st Avenue
  • Market: Pompano Beach
  • Landlord: Adache Real Estate
  • Brokers: Chandler Kaye, Chris Hammel & David Gahagan - NorthMarq
  • Loan Terms: three-year term, interest-only payments and extension options

NorthMarq facilitated this loan arrangement through a life insurance company, which included TIF financing from the city as an economic incentive for the project, specifically aimed at refinancing Old Town Square, the midrise apartment community.

On the Map

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$59,000,000

MultiFamily

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Players

Chandler Kaye

NorthMarq

Broker

$274.7M

vol

4 deals

Broker
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Pompano Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $210K per unit across 281 units on a published $59M (2025).

Visit Chandler Kaye to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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