New York Life Ins. Company Provides $85M Loan For 172-Unit Multifamily Property In Boca Raton
FINANCED
$85,000,000
Florida
See Similar DealsMultiFamily137,645 SF
Financed 04/16/2020
FINANCED
New York Life Ins. Company Provides $85M Loan For 172-Unit Multifamily Property In Boca Raton
6079 Town Colony Drive, Boca Raton, FL, USA
See Similar DealsMultiFamily137,645 SF
Financed 04/16/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$617
Total Square Footage:137,645 SF
Transaction Type:Loan
The multifamily property located at 6079 Town Colony Drive in Boca Raton has undergone a recent transaction. The asset, owned by Gables Residential, was involved in a loan deal with New York Life Insurance Company. The loan amount secured for this transaction was $85,000,000. This property comprises 172 units, covering a total area of 137,645 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Address: 6079 Town Colony Drive, Boca Raton
- Units: 172
- Square Footage: 137,645
Sue Ansel from Gables Residential represented the landlord in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$85,000,000.00
Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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