Invesca Development Group Secures $94 Million Refinance Loan From Madison Realty Capital For Multifamily Asset
4350 Northwest 8th Court
$94,000,000
$235/SF
Building Size
400,000 SF
Asset Type
MultiFamily
Closing
Aug 13, 2024
AI
The property involved in this transaction is a multifamily asset located at 4350 Northwest 8th Court in Plantation, featuring 330 units and encompassing 400,000 square feet.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $94,000,000
- Lender: Madison Realty Capital
- Landlord: Invesca Development Group
- Brokers: Jay Miller, Spencer Miller, Aj Felberbaum & Noah Rothman - BayBridge Real Estate Capital
- Loan Type: Refinance
This transaction reflects the collaboration of multiple brokers from BayBridge Real Estate Capital, including Jay Miller, Spencer Miller, Aj Felberbaum, and Noah Rothman, who played a crucial role in facilitating the refinance process for the landlord, Invesca Development Group.
Players
Plantation 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93