Joe Moser & Mark Simon Of Benmark Capital Provide $9.6M Bridge Loan For Sunrise Multifamily Property
FINANCED
$9,600,000
Florida
See Similar DealsMultiFamily41 SF
Financed 01/22/2024
FINANCED
Joe Moser & Mark Simon Of Benmark Capital Provide $9.6M Bridge Loan For Sunrise Multifamily Property
2000 Metropica Way
See Similar DealsMultiFamily41 SF
Financed 01/22/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$234,146
Total Square Footage:41 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,600,000.00
Monthly NOI$64,000.00
Monthly Debt Service$60,678.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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