facebook
Traded Co logo
Submit

Equity Lending Solutions Provides $6M Construction Loan For 6-Unit Multifamily In Pompano Beach

Property Image
FINANCED
$6,000,000

Florida

See Similar Deals
MultiFamily15,000 SF
Financed 06/26/2023
the dealplayerscompscontact
Property Image
FINANCED

Equity Lending Solutions Provides $6M Construction Loan For 6-Unit Multifamily In Pompano Beach

3230 NE 7th St, Pompano Beach, FL 33062

See Similar Deals
MultiFamily15,000 SF
Financed 06/26/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$400
Total Square Footage:15,000 SF
Transaction Type:Loan

The property involved in the transaction is a multifamily asset located at 3230 Northeast 7th Street in Pompano Beach. The asset comprises six townhouses, each measuring 2,500 square feet, totaling 15,000 square feet. The transaction was financed with a construction loan of $6,000,000 for a period of 18 months, with interest-only payments. These townhouses are positioned directly in front of the beach.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,000,000
  • Units: 6
  • Square Footage: 15,000
  • Address: 3230 Northeast 7th Street
  • Market: Pompano Beach
  • Lender: Equity Lending Solutions - Hector Castro
  • Loan Type: Construction
  • Loan Terms: 18 months (Interest Only)

The key individual facilitating the financing of this project is Hector Castro, representing Equity Lending Solutions as the lender. The loan is designated for the construction of the six townhouses, which is notable for their beach front location.

Players

Hector Castro
Hector Castro
11 deals$49.4M volume(305) 381-0153
BROKER
Equity Lending Solutions
Equity Lending Solutions
LENDER

Details

FINANCED
IMAGE: Hector Castro DATE: 06/26/2023 ADDRESS: 3230 Northeast 7th Street MARKET: Pompano Beach ASSET TYPE: Multifamily ~ UNITS: 6 ~ SF : 15,000 LENDER: Equity Lending Solutions (@EquityLendingSolutions) - Hector Castro LOAN AMOUNT: $6,000,000 LOAN TYPE: Construction LOAN TERMS: 18 months (Interest Only) NOTE FROM LENDER: This project will have 6 town houses, each measuring 2,500 sq ft, located directly in front of the beach. This project will have 6 town houses, each measuring 2,500 sq ft, located directly in front of the beach.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,000,000.00

Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00