Updated Oct 28, 2024
Stormfield Capital Provides $5.9M Bridge Loan For Multifamily Property In Tallahassee
2400 W Tharpe St, Tallahassee, FL 32303, USA
$5
$0/SF
Building Size
92,225 SF
Asset Type
MultiFamily
Closing
Oct 28, 2022
About this deal
AI
The multifamily property located at 2400 W Tharpe St in Tallahassee, FL has been involved in a closed loan transaction. The property consists of 50 units with a total square footage of 92,225. The loan amount for this transaction was $5,900,000 and the loan type was Bridge. Stormfield Capital, represented by Kyle Shea, provided the loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,900,000
- Address: 2400 W Tharpe St
- Market: Tallahassee, FL
- Units: 50
- Square Footage: 92,225
- Lender: Stormfield Capital - Kyle Shea
In addition to the lender, the deal involved Platos Villas as the landlord. The broker representing this transaction was David Jungreis from Walker & Dunlop.
Players
Tallahassee MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3172600.00%
Cash-on-Cash
-906738.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93