Prospect Real Estate Group Secures $66M Construction Loan For Fort Lauderdale Multifamily Property
FINANCED
$66,000,000
Florida
See Similar DealsMultiFamily
Financed 07/25/2022
FINANCED
Prospect Real Estate Group Secures $66M Construction Loan For Fort Lauderdale Multifamily Property
618 Northeast 3rd Avenue, Fort Lauderdale, Florida 33304, United States
See Similar DealsMultiFamily
Financed 07/25/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The 252-unit multifamily property located at 618 NE Third Avenue in Fort Lauderdale has been involved in a recent transaction. Spanning across 1.4 acres, this property has attracted attention from various parties in the real estate market.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Units: 252
- Acres: 1.4
Forum Capital Advisors, represented by Ross MacDonald, and Bank OZK provided a construction loan for this property. The loan amount of $66,000,000 will support the development of the multifamily asset.
Prospect Real Estate Group is the landlord of this property, indicating their involvement in the transaction as one of the key players. This deal showcases the collaboration between lenders and property owners in the real estate market.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$66,000,000.00
Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions