ACRES Provides $47M Acquisition Loan For Multifamily Property In Fort Lauderdale, FL
FINANCED
$47,000,000
Florida
See Similar DealsMultiFamily213,768 SF
Financed 04/28/2021
FINANCED
ACRES Provides $47M Acquisition Loan For Multifamily Property In Fort Lauderdale, FL
5201 North Dixie Highway, Fort Lauderdale, Florida, USA
See Similar DealsMultiFamily213,768 SF
Financed 04/28/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:213,768 SF
Transaction Type:Loan
The multifamily property located at 5201 N. Dixie Highway in Fort Lauderdale, FL has been acquired through a loan. The loan transaction occurred on 04/28/2021. The property is a part of the Fort Lauderdale market and is owned by ROI Capital Group.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Loan Type: Acquisition
- Lender: ACRES
- Borrower: ROI Capital Group
- Brokers: Mitch Sinberg & Brad Williamson - Berkadia
The loan amount for the acquisition is $47,000,000. The loan terms include a three-year bridge loan with two one-year options. The representation for the borrowers in this deal was Mitch Sinberg & Brad Williamson from Berkadia. ACRES provided the loan for this transaction.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,000,000.00
Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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