Grandbridge Real Estate Capital Provides $37.5M Acquisition Loan For Boynton Beach Multifamily Property
3609 High Ridge Rd
$37,500,000
$194/SF
Building Size
193,075 SF
Asset Type
MultiFamily
Closing
Sep 8, 2022
AI
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.
Players
Market 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93