Updated Oct 28, 2024
Bridge Investment Group Provides $58.6M Acquisition Loan For Multifamily Property In Fort Myers
3040 Oasis Grand Boulevard, Fort Myers, FL 33916
$58,600,000
$32,555/SF
Building Size
1,800 SF
Asset Type
MultiFamily
Closing
Aug 23, 2021
About this deal
AI
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
Fort Myers 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93