Momentum Real Estate Partners Acquires 195-Unit Multifamily Property In Fort Myers
3419 Forum Boulevard, Fort Myers, Florida 33905, United States
$40,650,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 7, 2022
AI
Momentum Real Estate Partners, represented by Mauricio and Eduardo Gruener, have completed a closed transaction for a multifamily property located at 3419 Forum Blvd in Fort Myers. The property consists of 195 units and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,650,000
- Address: 3419 Forum Blvd, Fort Myers
- Market: Fort Myers
- Loan Type: Acquisition Loan
- Loan Terms: Seven-year, fixed-rate loan
The deal was facilitated by JLL Capital Markets brokers, Elliott Throne and Kenny Cutler.
Players
Fort Myers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93