First Housing Development Corporation Provides $23.2M Loan For Pompano Beach Multifamily
FINANCED
$23,200,000
Florida
See Similar DealsMultiFamily420,642 SF
Financed 07/19/2021
FINANCED
First Housing Development Corporation Provides $23.2M Loan For Pompano Beach Multifamily
501 Southwest 1st Court, Pompano Beach, FL, USA
See Similar DealsMultiFamily420,642 SF
Financed 07/19/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$55
Total Square Footage:420,642 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,200,000.00
Monthly NOI$154,666.67
Monthly Debt Service$146,639.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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