Estate Companies Acquires Hollywood Multifamily Property With $80M Construction Loan
2001 Hollywood Boulevard, Hollywood, Florida 33020, United States
$80,000,000
$2,120/SF
Building Size
37,731 SF
Asset Type
MultiFamily
Closing
Jun 23, 2022
AI
The property asset involved in this transaction is a multifamily development located at 2001 Hollywood Boulevard in Hollywood. This asset comprises 324 units spread over 2.3 acres and secured a construction loan amounting to $80,000,000, provided by U.S. Bank National Association.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $80,000,000
- Address: 2001 Hollywood Boulevard
- Market: Hollywood
- Units: 324
- Acres: 2.3
- Lender: U.S. Bank National Association
- Landlord: Estate Companies - Robert Suris & Jeff Ardizon
- Loan Type: Construction Loan
Key individuals in the deal include Robert Suris and Jeff Ardizon, both representing Estate Companies as landlords in the transaction. Their involvement signifies a continued commitment to multifamily development in the Hollywood market.
Players
Hollywood 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93