Updated Mar 3, 2025
Lument Provides $48.8M Refinancing Loan For 264-Unit Multifamily In Santa Rosa Beach
24555 US Highway 331 S, Santa Rosa Beach, Florida 32459, United States
$48,800,000
$2,253/SF
Building Size
21,660 SF
Asset Type
MultiFamily
Closing
Jan 10, 2022
About this deal
AI
The multifamily property located at 24555 Highway 331 S in Santa Rosa Beach has recently undergone a refinancing loan. The property consists of 264 units spread across 32 acres in a bustling market. The loan was provided by lument''>Lument, with Steve Beltran representing the lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $48,800,000
- Loan Type: Refinancing Loan
- Loan Terms: 10-year term and 30-year amortization, fixed interest rate, and 60 months of interest-only payments
In this deal, Steve Beltran represented Lument as the lender. The loan amount of $48,800,000 was secured for the 10-year term with a 30-year amortization period. The loan features a fixed interest rate and includes 60 months of interest-only payments. This transaction marks an important milestone for the property as it seeks to optimize its financial structure.
Players
Santa Rosa 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93