Terra Equity Group Secures $70M Loan For Multifamily Properties In Orlando & Pine Hills

The multifamily properties located at 3024 N Powers Drive and 4793 N Pine Hills Road in Orlando and Pine Hills have been involved in a recent closed transaction. The combined square footage of these properties is 512,964, and they comprise a total of 536 units. The transaction took place on 06/06/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $70,000,000
• Loan Type: Acquisition
• Loan Terms: 67% LTC, 3-year term, full term interest-only, SOFR+ 2.10%

The lender for this transaction was keybank-''>KeyBank Real Estate Capital, represented by Alan Isenstadt and Jack Hoffman. The loan provided amounted to $70,000,000 and was used for the acquisition of the properties. The loan terms offered a loan-to-cost ratio of 67%, with a 3-year term and full term interest-only payments. The interest rate was based on SOFR+ 2.10%.

The landlord involved in this transaction is Terra Equity Group, represented by Vino Kulhari and Eleana Morozenko. For more information about Terra Equity Group, please visit their website at terraequitygroup.com.