Updated Mar 11, 2025
Joe Moser & Mark Simon Of Benmark Capital Provide $9.6M Bridge Loan For Sunrise Multifamily Property
2000 Metropica Way
$9,600,000
$234,146/SF
Building Size
41 SF
Asset Type
MultiFamily
Closing
Jan 22, 2024
About this deal
AI
The property involved in this closed transaction is a distinguished 41-unit multifamily asset located at 2000 Metropica Way in Sunrise, FL. The property is situated in the Sunrise market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- Units: 41
- Market: Sunrise
Benmark Capital, represented by Joe Moser & Mark Simon, provided a bridge loan of $9.6 million for this property. The loan has a 12-month term, allowing sufficient time for the gradual selloff of the remaining units. This tailored financing solution aligns with the unique needs of the borrower, Joseph Kavana.
Players
Sunrise 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93