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
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