Updated Oct 29, 2024
Madison Realty Capital Provides $50M Loan For Pompano Beach Multifamily Property To Invesca Development Group
475 Southeast 1st Street, Pompano Beach, FL, USA
$50,000,000
$8/SF
Building Size
5,641,556 SF
Asset Type
MultiFamily
Closing
Nov 5, 2020
About this deal
AI
The multifamily property located at 475 Southeast 1st Street in Pompano Beach has been involved in a recent transaction. The property consists of 214 units and was the subject of a loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 475 Southeast 1st Street
- Market: Pompano Beach
- Lender: Madison Realty Capital
- Landlord: Invesca Development Group
The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen representing the lender. The landlord involved in the deal is Invesca Development Group, with Christopher Longsworth representing them. The brokers who facilitated the transaction were Jay Miller, Spencer Miller, and AJ Felberbaum, who are affiliated with BayBridge Real Estate Capital.
Players
Pompano Beach 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93