Beacon Real Estate Group Acquires Multifamily Property In Clearwater, FL For $34M
FINANCED
$34,000,000
Florida
See Similar DealsMultiFamily975 SF
Financed 04/19/2021
FINANCED
Beacon Real Estate Group Acquires Multifamily Property In Clearwater, FL For $34M
2554 Oak Trail South, Clearwater, FL 33764
See Similar DealsMultiFamily975 SF
Financed 04/19/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$34,871
Total Square Footage:975 SF
Transaction Type:Loan
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
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,000,000.00
Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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