Updated Oct 28, 2024
AHS Residential Acquires Multifamily Property In West Palm Beach For $37.2M Loan
6227 Southern Boulevard, West Palm Beach, Florida 33411, United States
$37,210,000
Units
288
Asset Type
MultiFamily
Closing
Dec 15, 2021
About this deal
AI
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.
On the Map
$37,210,000
MultiFamily
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Players
West Palm Beach 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93