Updated Oct 28, 2024
First Housing Development Corporation Provides $23.2M Loan For Pompano Beach Multifamily
501 Southwest 1st Court, Pompano Beach, FL, USA
$23,200,000
$55/SF
Building Size
420,642 SF
Asset Type
MultiFamily
Closing
Jul 18, 2021
About this deal
AI
The multifamily property located at 501 SW 1st Court in Pompano Beach has recently undergone a loan transaction. First Housing Development Corporation provided a loan amount of $23,200,000 for this property. The asset consists of 224 units and spans a total area of 420,642 square feet.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $23,200,000
- Units: 224
- Square Feet: 420,642
- Address: 501 SW 1st Court, Pompano Beach
- Lender: First Housing Development Corporation
In this deal, The Cornerstone Group acts as the landlord. The transaction involves the apartment complex's loan, with First Housing Development Corporation serving as the lender.
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
0.68%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93