Updated Oct 29, 2024
NY Investor Secures $16M Loan For 381-Unit Multifamily In Jacksonville
5959 Fort Caroline Road
$16,000,000
$3,061/SF
Building Size
5,227 SF
Asset Type
MultiFamily
Closing
Dec 18, 2020
About this deal
AI
5959 Fort Caroline Road in Jacksonville has been sold in a closed transaction. The property is a multifamily asset with 381 units. The transaction took place on December 18, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 5959 Fort Caroline Road, Jacksonville
- Market: Jacksonville
- Units: 381
The lender in this transaction was Castellan Capital, represented by Daniella Marca. The loan was closed in just 2 weeks with a 12-month term and no prepayment penalty or minimum interest requirement. The landlord is an investor from New York. The brokers involved in the deal were Maison Holdings LLC.
Players
Jacksonville 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93