Benefit Street Partners Provides $58M Loan For Hollywood Multifamily Property
FINANCED
$58,000,000
Florida
See Similar DealsMultiFamily2,858 SF
Financed 09/30/2020
FINANCED
Benefit Street Partners Provides $58M Loan For Hollywood Multifamily Property
2165 Van Buren St, Hollywood, FL 33020, USA
See Similar DealsMultiFamily2,858 SF
Financed 09/30/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$20,293
Total Square Footage:2,858 SF
Transaction Type:Loan
An article was recently published regarding a closed transaction in Hollywood. The property involved is a multifamily asset located at 2165 Van Buren Street. The transaction took place on 09/30/2020. The property consists of 247 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Market: Hollywood
The lender for this transaction was Benefit Street Partners. The brokerage representation was handled by Aaron Kurlansky & Daniel Kaweblum from FM Capital.
This deal represents a significant investment opportunity in the Hollywood market. The property's prime location and large number of units make it an appealing asset for investors. The involvement of Benefit Street Partners as the lender adds credibility to the transaction. Furthermore, the expertise of Aaron Kurlansky & Daniel Kaweblum from FM Capital provides assurance to both the buyer and seller.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,000,000.00
Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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