Updated Oct 29, 2024
New York Life Ins. Company Provides $85M Loan For 172-Unit Multifamily Property In Boca Raton
6079 Town Colony Drive, Boca Raton, FL, USA
$85,000,000
$617/SF
Building Size
137,645 SF
Asset Type
MultiFamily
Closing
Apr 15, 2020
About this deal
AI
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.
On the Map
$85,000,000
$617/SF
MultiFamily
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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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93