Cardone Capital Secures $105M Loan For Boca Raton Multifamily Property
FINANCED
$105,000,000
+ 1
Florida
See Similar DealsMultiFamily400,000 SF
Financed
FINANCED
Cardone Capital Secures $105M Loan For Boca Raton Multifamily Property
5550 North Military Trail, Boca Raton, FL, USA
See Similar DealsMultiFamily400,000 SF
Financed
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$262
Total Square Footage:400000 SF
Transaction Type:Loan
Located at 5550 North Military Trail in Boca Raton, this multifamily property encompasses 400,000 square feet. The transaction took place on December 4, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $105,000,000
- Market: Boca Raton
- Lender: New York Community Bank (NYCB)
- Landlord: Cardone Capital
- Brokers: Israel Schubert, David Cohen, Mordy Schwartz, & Mark Krupenia - Meridian Capital Group
The loan for this transaction was provided by New York Community Bank (NYCB). The loan amount is $105,000,000, and it is subject to interest-only payments of 2.89 percent for the entire 7-year term.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$105,000,000.00
Monthly NOI$700,000.00
Monthly Debt Service$663,671.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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