Estate Companies Acquires Hollywood Multifamily Property With $80M Construction Loan
FINANCED
Florida
See Similar DealsMultiFamily37,731 SF
Financed 06/24/2022
FINANCED
Estate Companies Acquires Hollywood Multifamily Property With $80M Construction Loan
2001 Hollywood Boulevard, Hollywood, Florida 33020, United States
See Similar DealsMultiFamily37,731 SF
Financed 06/24/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,120
Total Square Footage:37,731 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,000,000.00
Monthly NOI$533,333.33
Monthly Debt Service$505,654.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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