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2335 East Atlantic Boulevar...

PNC Bank Provides $78.2M Loan For Multifamily Property In Pompano Beach
FINANCEDMultiFamily

PNC Bank Provides $78.2M Loan For Multifamily Property In Pompano Beach

2335 East Atlantic Boulevard, Pompano Beach, Florida 33062, United States

$78,200,000

Building Size

Asset Type

MultiFamily

Closing

Jan 24, 2022

AI

Located at 2335 & 2401 E. Atlantic Blvd in Pompano Beach, this multifamily property consists of 355 units. The property was recently involved in a closed transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $78,200,000
  • Market: Pompano Beach
  • Loan: PNC Bank
  • Landlord: Grover Corlew - Anuj Grover

PNC Bank provided a loan amount of $78,200,000 for the acquisition of this property. Anuj Grover of Grover Corlew represented the landlord in the transaction.

Players

Anuj Grover

Grover Corlew

Broker

$222.6M

vol

5 deals

Broker
PNC Bank
PNC BankLender

Anuj Grover

Landlord

$222.6M

vol

5 deals

Landlord

Pompano Beach 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