Updated Oct 28, 2024
OKO Group And Cain International Land $97.2M Mezzanine And Construction Loan For Fort Lauderdale Multifamily
629 Southeast 5th Avenue, Fort Lauderdale, Florida 33301, United States
$97,200,000
Units
251
Asset Type
MultiFamily
Closing
Jul 6, 2022
About this deal
AI
The multifamily property located at 629 SE Fifth Avenue in Fort Lauderdale was involved in a closed transaction. The property consists of 251 units and was the subject of a loan deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $97,200,000
- Address: 629 SE Fifth Avenue, Fort Lauderdale
- Market: Fort Lauderdale
The loan for this transaction was provided by Bank OZK and JVP Management. The landlords involved in the deal are OKO Group, represented by Vlad Doronin, and Cain International.
Walker & Dunlop, represented by Keith Kurland, Jonathan Schwartz, Aaron Appel, and Adam Schwartz, acted as the brokers in this transaction.
The loan type for this deal is Mezzanine & Construction Loan.
Players
Fort Lauderdale 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93