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JLL Brokers Secure $32.75M Acquisition Loan For 4600 Lusso Lane Build-to-Rent

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FINANCED
$32,750,000
Kenny Cutler
Christopher (Chris) Drew
Matthew Putterman
+ 1

Florida

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MultiFamily243,687 SF
Financed 03/01/2024
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Property Image
FINANCED

JLL Brokers Secure $32.75M Acquisition Loan For 4600 Lusso Lane Build-to-Rent

4600 Lusso Ln

See Similar Deals
MultiFamily243,687 SF
Financed 03/01/2024
Kenny Cutler
Christopher (Chris) Drew
Matthew Putterman
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$134
Total Square Footage:243,687 SF
Transaction Type:Loan

The property located at 4600 Lusso Lane in Jacksonville, a Build-to-Rent asset, consists of 141 units spanning 243,687 square feet. The acquisition loan for this property amounted to $32,750,000 and was provided by Greystar.

Summary of transaction details:

  • Property Type: Build-to-Rent
  • Transaction Amount: $32,750,000
  • Units: 141
  • Square Footage: 243,687
  • Address: 4600 Lusso Lane
  • Market: Jacksonville
  • Landlord: Casey Tischer - 360 Communities; Andrew Barbakoff - PCCP
  • Brokers: Chris Drew, Matthew Putterman, Kenny Cutler & Shane Ciacci - JLL

The representatives who facilitated this deal were Chris Drew, Matthew Putterman, Kenny Cutler, and Shane Ciacci from JLL. The landlords involved in the transaction were Casey Tischer representing 360 Communities and Andrew Barbakoff on behalf of PCCP. Notably, the loan type for this transaction was specified as an Acquisition Loan.

Players

Christopher (Chris) Drew
JLL
Christopher Drew
48 deals$4.7B volume(305) 421-6551
BROKER
Kenny Cutler
JLL
Kenny Cutler
28 deals$1.4B volume
BROKER
Matthew Putterman
JLL
Matthew Putterman
10 deals$491.8M volume(713) 852-3524
BROKER
Shane Ciacci
JLL
Shane Ciacci
10 deals$920.8M volume
BROKER
Greystar
Greystar
LENDER

Details

FINANCED
IMAGE: Casey Tischer, Matthew Putterman, Shane Ciacci, Chris Drew, Andrew Barbakoff & Kenny Cutler DATE: 03/01/2024 ADDRESS: 4600 Lusso Lane MARKET: Jacksonville ASSET TYPE: Build-to-Rent ~ UNITS: 141 ~ SF: 243,687 LENDER: Greystar LANDLORD: Casey Tischer - 360 Communities; Andrew Barbakoff - PCCP BROKERS: Chris Drew, Matthew Putterman, Kenny Cutler & Shane Ciacci - JLL (@JLL) LOAN AMOUNT: $32,750,000 LOAN TYPE: Acquisition Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,750,000.00

Monthly NOI$218,333.33
Monthly Debt Service$207,002.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00