Great America Holdings Acquires 63-Unit Multifamily Property In Naples With $11.94M Loan From Cohen & Company

A multifamily property located at 5570 16th Place in Naples has been sold in a closed transaction. The property consists of 63 units and was acquired by Great America Holdings. The deal was facilitated by brokers Charles Foschini and Chris Apone from Berkadia. The transaction took place on 05/26/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $11,940,000
• Address: 5570 16th Place, Naples
• Market: Naples
• Units: 63
• Lender: Cohen & Company
• Loan Type: Acquisition Loan
• Loan Terms: Three-year, floating-rate loan with full-term interest only and two 12-month extensions

The loan for the acquisition of the property was provided by Cohen & Company. The loan is in the amount of $11,940,000 and has a three-year term. It is a floating-rate loan with full-term interest only and two 12-month extensions. Charles Foschini and Chris Apone from Berkadia served as the brokers representing the parties involved in the deal.