Bridge Investment Group Provides $58.6M Acquisition Loan For Multifamily Property In Fort Myers
FINANCED
$58,600,000
Florida
See Similar DealsMultiFamily1,800 SF
Financed 08/23/2021
FINANCED
Bridge Investment Group Provides $58.6M Acquisition Loan For Multifamily Property In Fort Myers
3040 Oasis Grand Boulevard, Fort Myers, FL 33916
See Similar DealsMultiFamily1,800 SF
Financed 08/23/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$32,555
Total Square Footage:1,800 SF
Transaction Type:Loan
The multifamily property located at 3040 Oasis Grand Boulevard in Fort Myers has recently undergone a closed transaction. The deal took place on 08/23/2021 and involved the following details:
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,600,000
- Address: 3040 Oasis Grand Boulevard
- Market: Fort Myers
The loan for this transaction was provided by Bridge Investment Group. The loan amount was $58,600,000, and it was an acquisition loan. The terms of the loan included a five-year, floating-rate loan with full-term interest only. The property consists of 265 units and is owned by Westside Capital Group.
Charles Foschini and Christopher Apone from Berkadia served as the brokers for this transaction, representing the parties involved in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,600,000.00
Monthly NOI$390,666.67
Monthly Debt Service$370,391.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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