AHS Residential Acquires Multifamily Property In West Palm Beach For $37.2M Loan
FINANCED
$37,210,000
Florida
See Similar DealsMultiFamily
Financed 12/15/2021
FINANCED
AHS Residential Acquires Multifamily Property In West Palm Beach For $37.2M Loan
6227 Southern Boulevard, West Palm Beach, Florida 33411, United States
See Similar DealsMultiFamily
Financed 12/15/2021
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
An $37,210,000 construction financing loan has been secured for a multifamily property located at 6227 Southern Blvd in West Palm Beach. The property spans across 11 acres and consists of 288 units. Truist Bank provided the loan for this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,210,000
- Market: West Palm Beach
- Units: 288
- Acres: 11
AHS Residential, represented by Ernesto Lopes, is the landlord of the property. They successfully secured the construction financing loan from Truist Bank for the development.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,210,000.00
Monthly NOI$248,066.67
Monthly Debt Service$235,192.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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