NorthMarq Brokers Arrange $31.4M Permanent-Fixed Rate Loan For Tallahassee Multifamily
FINANCED
$31,400,000
Florida
See Similar DealsMultiFamily1,441 SF
Financed 03/30/2021
FINANCED
NorthMarq Brokers Arrange $31.4M Permanent-Fixed Rate Loan For Tallahassee Multifamily
3501 South Blair Stone Road, Tallahassee, FL, USA
See Similar DealsMultiFamily1,441 SF
Financed 03/30/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$21,790
Total Square Footage:1,441 SF
Transaction Type:Loan
The multifamily property located at 3501 South Blair Stone Road in Tallahassee was involved in a recent closed transaction. The property consists of 244 units and was the subject of a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,400,000
- Loan Terms: Permanent-fixed Rate Loan
- Address: 3501 South Blair Stone Road
- Market: Tallahassee
- Brokers: Lee Weaver & Melissa Marcolini Quinn - NorthMarq
The loan, amounting to $31,400,000, was secured for the multifamily property. The loan terms are a permanent-fixed rate loan, providing stability for the property's financing. The transaction was facilitated by brokers Lee Weaver & Melissa Marcolini Quinn of NorthMarq, who represented the parties involved in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,400,000.00
Monthly NOI$209,333.33
Monthly Debt Service$198,469.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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