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5610 Graduate Cr, Tampa, Fl...

Amerant Bank Provides $26.6M Loan For Acquisition Of 156-Unit Multifamily Property In Tampa
FINANCEDMultiFamily

Amerant Bank Provides $26.6M Loan For Acquisition Of 156-Unit Multifamily Property In Tampa

5610 Graduate Cr, Tampa, Florida 33617, United States

$26,600,000

$117/SF

Building Size

226,396 SF

Asset Type

MultiFamily

Closing

May 11, 2022

AI

The multifamily property located at 5610 Graduate Cir in Tampa has been involved in a recent transaction. This property consists of 156 units with a total square footage of 226,396. The transaction took place on May 12, 2022.

Summary of transaction details:

The lender in this transaction was Amerant Bank. The landlord of the property is Axonic Properties and represented by Jonathan Shechtman and Brian Kennedy. The brokers involved in the deal were Adam Schwartz and Michael Ianno from Walker & Dunlop.

Players

Adam Schwartz

Walker & Dunlop

Broker

$25.7B

vol

166 deals

Broker
Amerant Bank
Amerant BankLender
Jonathan Shechtman

Jonathan Shechtman

Axonic Properties

Landlord

$503.1M

vol

17 deals

Landlord

Temple Terrace 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

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93