H.I.G. Realty Partners Provides $103M Loan For Multifamily Property In Tampa
FINANCED
$103,000,000
+ 3
Florida
See Similar DealsMultiFamily1,469 SF
Financed 06/28/2020
FINANCED
H.I.G. Realty Partners Provides $103M Loan For Multifamily Property In Tampa
4950 West Prescott Street, Tampa, FL, USA
See Similar DealsMultiFamily1,469 SF
Financed 06/28/2020
+ 3
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$70,115
Total Square Footage:1,469 SF
Transaction Type:Loan
The multifamily property located at 4950 W Prescott St in Tampa has been involved in a closed transaction. The asset consists of 444 units and was part of a deal with a loan amount of $103,000,000. The transaction took place on 06/28/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $103,000,000
- Address: 4950 W Prescott St
- Market: Tampa
- Units: 444
The lender for this transaction was H.I.G. Realty Partners. The landlord involved in the deal is Index Investment Group, specifically Bjarne Borg. The brokers who facilitated the transaction were Morris Betesh, Alex Bailkin, Justin Boruchov, Peter Martz, and Scott Miller from the Meridian Capital Group.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$103,000,000.00
Monthly NOI$686,666.67
Monthly Debt Service$651,030.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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