Samuel Lukach Secures $3.15M Loan From City National Bank For 33-Unit Multifamily In Fort Myers

2711 Royal Palm Avenue is a multifamily asset located in Fort Myers, consisting of 33 units. The property transaction was supported through an acquisition loan amounting to $3,150,000, structured over a 30-year term. The deal encountered complications, including title issues and escrow negotiations, which required careful handling to ensure closure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,150,000
• Lender: City National Bank of Florida
• Landlord: Samuel Lukach
• Originator: Ravi Punn - 818 Capital
• Units: 33
• Market: Fort Myers
• Loan Type: Acquisition
• Loan Terms: 30 years

The transaction involved Ravi Punn from 818 Capital, who facilitated the acquisition loan. Notably, the complexities that arose during the deal highlighted the commitment to closing despite challenges, illustrating a dedication to meeting the needs of operators in the multifamily market. Communication details for the originator are readily available through email.