PNC Bank Provides $30.8M Loan For Multifamily Property In Cooper City
2601 Solano Avenue, Cooper City, FL, USA
$30,800,000
$114/SF
Building Size
269,626 SF
Asset Type
MultiFamily
Closing
Jun 9, 2020
AI
The multifamily property located at 2601 Solano Ave in Cooper City was involved in a recent transaction. The property, owned by CC Residential, with Andy Burnham, Armando Codina & James Carr as landlords, underwent a loan process.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $30,800,000
- Address: 2601 Solano Ave, Cooper City
- Market: Cooper City
PNC Bank provided a loan of $30,800,000 for this multifamily property, consisting of 175 units. The deal involved CC Residential, represented by their brokers Andy Burnham, Armando Codina, and James Carr.
Players
Pembroke Pines 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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93