Freddie Mac Optigo Provides $76.7M Loan For Tampa Multifamily Property
6900 Concord Drive, Tampa, Florida 33614, United States
$76,720,000
$7,649/SF
Building Size
10,030 SF
Asset Type
MultiFamily
Closing
Jul 10, 2022
AI
A 638-unit multifamily property located at 6900 Concord Dr. in Tampa has recently undergone a closed transaction. The deal, which took place on 07/11/2022, involved a loan provided by Freddie Mac Optigo℠. The loan amount was $76,720,000, and it had a term of 10 years with a floating interest rate.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $76,720,000
- Address: 6900 Concord Dr.
- Market: Tampa
- Loan Terms: 10-year, floating-rate loan
- Lender: Freddie Mac Optigo℠
The brokers involved in this transaction were Elliott Throne & Kenny Cutler, representing JLL Capital Markets.
Players
Tampa 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93