ESG Kullen Secures $45.63M Refinance Loan From Encore Finance For Orlando Multifamily Asset
3301 Kirkman Road
$45,637,373
$45,637,373/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Sep 17, 2024
AI
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:
- Property Type: Multifamily
- Transaction Amount: $45,637,373
- Lender: Encore Finance
- Landlord: ESG Kullen
- Brokers: Christopher Apone, Charles Foschini, Shannon Wilson, and Lourdes Carranza-Alvarez - Berkadia
- Loan Type: Refinance
- Loan Terms: 5-year, fixed-rate loan
- Bulk Condo Financing: $36.63 million
- Credit Facility: $8 million
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
Orlando 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93