Updated Oct 29, 2024
Beacon Real Estate Group Acquires Multifamily Property In Clearwater, FL For $34M
2554 Oak Trail South, Clearwater, FL 33764
$34,000,000
$34,871/SF
Building Size
975 SF
Asset Type
MultiFamily
Closing
Apr 18, 2021
About this deal
AI
The multifamily property located at 2554 Oak Trail South in Clearwater, FL has been acquired by Beacon Real Estate Group. The transaction, which took place on April 19, 2021, involved a loan provided by National Bridge Lender in the amount of $34,000,000. The property is situated in the Clearwater market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $34,000,000
- Lender: National Bridge Lender
- Landlord: Beacon Real Estate Group
- Brokers: Scott Wadler, Matthew Nihan & Michael Basinski - Berkadia
The deal was facilitated by brokers Scott Wadler, Matthew Nihan, and Michael Basinski from Berkadia. They represented the buyer, Beacon Real Estate Group, in the acquisition of the property.
Players
Clearwater 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93