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United Group Of Companies Secures $54.5M Refinance Loan From LoanCore For Multifamily Asset In Sarasota

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FINANCED
$54,500,000

Florida

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MultiFamily176,365 SF
Financed 09/20/2024
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Property Image
FINANCED

United Group Of Companies Secures $54.5M Refinance Loan From LoanCore For Multifamily Asset In Sarasota

3540 Broadway Avenue

See Similar Deals
MultiFamily176,365 SF
Financed 09/20/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$309
Total Square Footage:176,365 SF
Transaction Type:Loan

The property asset involved in this transaction is a multifamily asset located at 3540 Broadway Avenue in Sarasota. It comprises 183 units with a total square footage of 176,365. The loan amount associated with this property is $54,500,000, which is part of a refinance deal. The lender for this transaction is LoanCore.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $54,500,000
  • Units: 183
  • Square Footage: 176,365
  • Address: 3540 Broadway Avenue
  • Market: Sarasota
  • Lender: LoanCore
  • Landlord: United Group of Companies
  • Broker: Peter Mekras - Aztec Group

This transaction involves key individuals and companies, including the United Group of Companies, which serves as the landlord, and Peter Mekras from Aztec Group, who represents the broker in this refinance. The lender facilitating the loan is LoanCore, a financial institution specializing in commercial real estate financing.

Players

Peter Mekras
18 deals$1B volume(305) 725-5892
BROKER

Details

FINANCED
IMAGE: Peter Mekras DATE: 09/20/2024 ADDRESS: 3540 Broadway Avenue MARKET: Sarasota ASSET TYPE: Multifamily ~ UNITS: 183 ~ SF: 176,365 LENDER: LoanCore LANDLORD: United Group of Companies BROKER: Peter Mekras - Aztec Group (@AztecGroupInc) LOAN AMOUNT: $54,500,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$54,500,000.00

Monthly NOI$363,333.33
Monthly Debt Service$344,477.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00