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.
On the Map
$9,600,000
$234,146/SF
MultiFamily
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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