Updated Dec 4, 2024
MTK Developments Refinances Debary Multifamily Property For $18.4M Via Freddie Mac
2841 Enterprise Road
$18,385,000
Units
131
Asset Type
MultiFamily
Closing
Jan 3, 2024
About this deal
AI
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.
Players
Debary 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93