Updated Oct 29, 2024
Freddie Mac Provides $41.4M Loan For Multifamily Property In Boca Raton
5881 Town Bay Drive, Boca Raton, FL, USA
$41,400,000
$28,551/SF
Building Size
1,450 SF
Asset Type
MultiFamily
Closing
Mar 17, 2021
About this deal
AI
The multifamily property located at 5881 Town Bay Dr in Boca Raton has undergone a transaction involving a loan. The deal was facilitated by CBRE and the lender involved was Freddie Mac. The loan amount for the transaction was $41,400,000, and the loan terms were set for a seven-year period. The property, consisting of 252 units, is owned by Bell Partners Inc.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $41,400,000
- Address: 5881 Town Bay Dr, Boca Raton
- Market: Boca Raton
- Lender: Freddie Mac
- Broker: CBRE
- Landlord: Bell Partners Inc.
- Loan Terms: Seven-year loan
- Units: 252
The key individuals involved in this transaction were Bob Sulentic from CBRE and Michael Hutchins from Freddie Mac. Bob Sulentic represented CBRE as the broker in the deal.
Players
Boca Raton 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93