MTK Developments Refinances Debary Multifamily Property For $18.4M Via Freddie Mac
FINANCED
$18,385,000
Florida
See Similar DealsMultiFamily
Financed 01/03/2024
FINANCED
MTK Developments Refinances Debary Multifamily Property For $18.4M Via Freddie Mac
2841 Enterprise Road
See Similar DealsMultiFamily
Financed 01/03/2024
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
MTK Developments has recently refinanced a multifamily property in Debary. The property, located at 2841 Enterprise Road, consists of 131 units. The refinancing was facilitated by Adam Ioannou of Capital One, representing Freddie Mac, who provided a loan amount of $18,385,000.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $18,385,000
- Units: 131
- Lender: Adam Ioannou - Freddie Mac via Capital One
- Landlord: MTK Developments
- Landlord's Rep: Nabil Rhazi - Alico Capital
Nabil Rhazi of Alico Capital served as the landlord's representative in the refinancing deal. The successful refinance provides MTK Developments with the opportunity to optimize their multifamily property investment in Debary.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,385,000.00
Monthly NOI$122,566.67
Monthly Debt Service$116,205.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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