Updated Nov 27, 2024
TerraCap Management Secures $74.6M Loan For Orlando Multifamily Property
5215 Millenia Boulevard, Orlando, FL 32839
$74,600,000
$2,025/SF
Building Size
36,825 SF
Asset Type
MultiFamily
Closing
Dec 17, 2021
About this deal
AI
Located at 5215 Millenia Blvd in Orlando, this multifamily property consists of 371 units. The transaction was closed on 12/17/2021, with CBRE Investment Management providing a loan amount of $74,600,000 on a floating rate loan with an initial term of four years. The property is managed by TerraCap Management, and the deal was facilitated by Newmark as the broker.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $74,600,000
- Address: 5215 Millenia Blvd
- Market: Orlando
- Units: 371
CBRE Investment Management, represented by Charles Kim, provided the loan for this transaction. The loan terms include a floating rate with an initial term of four years. TerraCap Management serves as the landlord for the property, and Newmark acted as the broker in the deal.
Players
Orlando 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93