Grandbridge Real Estate Capital Provides $37.5M Acquisition Loan For Boynton Beach Multifamily Property
FINANCED
$37,500,000
Florida
See Similar DealsMultiFamily193,075 SF
Financed 09/08/2022
FINANCED
Grandbridge Real Estate Capital Provides $37.5M Acquisition Loan For Boynton Beach Multifamily Property
3609 High Ridge Rd
See Similar DealsMultiFamily193,075 SF
Financed 09/08/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$194
Total Square Footage:193,075 SF
Transaction Type:Loan
The multifamily property located at 3609 High Ridge Rd in Boynton Beach has recently been involved in a loan transaction. The property consists of 184 units with a total square footage of 193,075.
Summary of transaction details
- Property Type: Multifamily
- Address: 3609 High Ridge Rd
- Market: Boynton Beach
- Units: 184
- Square Footage: 193,075
The lender for this loan transaction was Grandbridge Real Estate Capital, represented by David Gahagan and Christopher Hammel. The loan amount for the acquisition was $37,500,000. The loan terms included an 11-year term with the first 3 years being interest only.
Yuksel, Inc, represented by Gary Burchard, was the landlord involved in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,500,000.00
Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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