MetLife Provides $55.6M Refinance Loan To United Group Of Companies
3660 Rca Boulevard
$55,600,000
$232/SF
Building Size
239,000 SF
Asset Type
MultiFamily
Closing
May 20, 2024
AI
The multifamily property located at 3660 RCA Boulevard in Palm Beach Gardens spans 239,000 square feet and consists of 220 units. The property was financed through a $55,600,000 loan provided by MetLife. The United Group Of Companies serves as the landlord for this asset. The refinance loan aims to support the property's ongoing operations and investment opportunities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,600,000
- Market: Palm Beach Gardens
- Lender: MetLife
- Landlord: United Group Of Companies
- Broker: Peter Mekras - Aztec Group
Peter Mekras from the Aztec Group facilitated the loan transaction as the broker. The involvement of these key individuals and companies underscores the collaboration essential in successfully securing financial arrangements for multifamily assets.
Players
Palm Beach Gardens 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93