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Wells Fargo Provides $55.7M Loan For Multifamily Property In Oakland Park

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FINANCED
$55,700,000

Florida

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MultiFamily8,025 SF
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FINANCED

Wells Fargo Provides $55.7M Loan For Multifamily Property In Oakland Park

670 East Oakland Park Boulevard, Oakland Park, FL, USA

See Similar Deals
MultiFamily8,025 SF
Financed
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$6940
Total Square Footage:8025 SF
Transaction Type:Loan

A multifamily property located at 670 East Oakland Park in Oakland Park has been involved in a recent transaction. The property, spanning 12.1 acres, consists of 300 units. The transaction took place on March 3, 2021, with a loan amount of $55,700,000 provided by Charles W. Scharf of Wells Fargo.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $55,700,000
  • Address: 670 East Oakland Park
  • Market: Oakland Park
  • Lender: Charles W. Scharf - Wells Fargo
  • Units: 300
  • Acres: 12.1

Charles W. Scharf, representing Wells Fargo, served as the lender for this transaction. The loan amount provided played a significant role in facilitating the acquisition of the multifamily property in Oakland Park.

Players

Charles W. Scharf
Wells Fargo
Charles W. Scharf
9 deals$892.3M volume
LENDER
Wells Fargo
Wells Fargo
LENDER

Details

FINANCED
IMAGE: Charles W. Scharf DATE: 03/03/2021 ADDRESS: 670 East Oakland Park MARKET: Oakland Park ASSET TYPE: Multifamily LENDER: Charles W. Scharf - Wells Fargo LOAN AMOUNT: $55,700,000 UNITS: 300 ACRES: 12.1

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$55,700,000.00

Monthly NOI$371,333.33
Monthly Debt Service$352,061.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00