Updated Nov 19, 2023
AMAC And ROVR Development Secure $41M Construction Loan For Hollywood Multifamily Property
4465 Griffin Road
$41,000,000
Units
180
Asset Type
MultiFamily
Closing
Oct 21, 2022
About this deal
AI
A construction loan in the amount of $41,000,000 has been secured for a multifamily property located at 4465 Griffin Road in Hollywood. The property spans across 2.2 acres and consists of 180 units. The loan was provided by Ocean Bank.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $41,000,000
- Address: 4465 Griffin Road
- Market: Hollywood
- Units: 180
- Acres: 2.2
The property's landlord is AMAC, represented by Maurice & Ivan Kaufman, and ROVR Development, represented by Oscar Rodriguez & Ricardo Vadia.
Players
Davie 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93