Passco Cos Secures $77.5M Refinancing For 297-Unit Ocean Walk Apartments In Key West | 3900 Roosevelt Boulevard | Caleb Marten, Chris Neil | MultiFamily | Loan

Summary

Loan

FLORIDA

MultiFamily

The 297-unit Ocean Walk Apartments in Key West, Florida has secured $77.5 million in refinancing. Passco Cos., led by William O Passo, acquired the property for $101.5 million from Mast Capital and Rockpoint Group. The 10-year Fannie Mae loan, arranged by KeyBank Real Estate Capital, includes a 7-year interest-only period.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $77,500,000
Units: 297
Acres: 97
Address: 3900 Roosevelt Boulevard, Key West
Market: Key West

The deal was facilitated by Chris Neil and Caleb Marten from KeyBank Real Estate Capital, representing Passco Cos. as brokers.

Players

All
3

Agents
2
Agencies
1

Caleb Marten

Multifamily Mortgage Banking

Chris Neil

KeyBank Real Estate Capital

Details

Deal Summary

FINANCED

IMAGE: Caleb Marten & William O Passo DATE: 12/18/2023 ADDRESS: 3900 Roosevelt Boulevard MARKET: Key West ASSET TYPE: Multifamily ~ UNITS: 297 ~ ACRES: 97 LANDLORD: Passco Cos (@PasscoCompanies) - William O Passo BROKERS: Chris Neil & Caleb Marten - KeyBank Real Estate Capital (@Keybank) LOAN AMOUNT: $77,500,000 LOAN TYPE: Refinance LOAN TERMS: 10-year loan, which pays only interest for seven years and amortizes over a 30-year schedule NOTE: Passco Cos. has secured $77.5 million in refinancing for the 297-unit Ocean Walk Apartments in Key West, Florida. The 10-year Fannie Mae loan, arranged by KeyBank Real Estate Capital, includes a 7-year interest-only period, and Passco acquired the property for $101.5 million from Mast Capital and Rockpoint Group.

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Address3900 Roosevelt Boulevard

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