Lument Provides $48.8M Refinancing Loan For 264-Unit Multifamily In Santa Rosa Beach
FINANCED
$48,800,000
Florida
See Similar DealsMultiFamily21,660 SF
Financed 01/10/2022
FINANCED
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
See Similar DealsMultiFamily21,660 SF
Financed 01/10/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,253
Total Square Footage:21,660 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,800,000.00
Monthly NOI$325,333.33
Monthly Debt Service$308,449.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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