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ESG Kullen Secures $45.63M Refinance Loan From Encore Finance For Orlando Multifamily Asset

Property Image
FINANCED
$45,637,373
Charles Foschini
Shannon Wilson
+ 1

Florida

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MultiFamily1 SF
Financed 09/17/2024
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FINANCED

ESG Kullen Secures $45.63M Refinance Loan From Encore Finance For Orlando Multifamily Asset

3301 Kirkman Road

See Similar Deals
MultiFamily1 SF
Financed 09/17/2024
Charles Foschini
Shannon Wilson
+ 1
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$45,637,373
Total Square Footage:1 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 3301 Kirkman Road in Orlando, consisting of 271 units. The refinancing loan amount is $45,637,373, structured as a 5-year, fixed-rate loan that includes $36.63 million in bulk condo financing, along with an $8 million credit facility.

Summary of transaction details:

The individuals involved in this transaction include brokers Christopher Apone, Charles Foschini, Shannon Wilson, and Lourdes Carranza-Alvarez, all representing Berkadia in the deal. Their involvement highlights a collaborative effort among professionals in the multifamily asset financing sector.

Players

Charles Foschini
57 deals$3.1B volume(305) 267-6608
BROKER

Christopher (Chris) Apone
Berkadia
49 deals$2.4B volume
BROKER

Shannon Wilson
Berkadia
19 deals$825.9M volume
BROKER

Lourdes Carranza-Alvarez
Berkadia
10 deals$477.4M volume
BROKER

Details

FINANCED
IMAGE: Lourdes Carranza-Alvarez, Charles Foschini, Christopher Apone & Shannon Wilson DATE: 09/17/2024 ADDRESS: 3301 Kirkman Road MARKET: Orlando ASSET TYPE: Multifamily ~ UNITS: 271 LENDER: Encore Finance LANDLORD: ESG Kullen BROKERS: Christopher Apone, Charles Foschini (@Gladesman1), Shannon Wilson & Lourdes Carranza-Alvarez - Berkadia (@Berkadia) LOAN AMOUNT: $45,637,373 LOAN TYPE: Refinance LOAN TERMS: 5-year, fixed-rate loan. The loan consists of $36.63 million in bulk condo financing and $8 million credit facility.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$45,637,373.00

Monthly NOI$304,249.15
Monthly Debt Service$288,459.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00