Young Development Refinances Multifamily Property In Cape Coral With $41.6M Loan From Greystone
701 Southwest Pine Island Road
$41,664,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 8, 2024
AI
The multifamily property located at 701 Southwest Pine Island Road in Cape Coral has recently undergone a refinancing transaction. The property consists of 280 units and is owned by Young Development.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $41,664,000
- Lender: Greystone
- Brokers: Kyle Jemtrud, Kevin Coscia, and Wilson Molitor from Greystone
The loan for the refinancing was provided by Greystone. The terms of the loan are a 10-year Fannie Mae loan with 5 years of interest-only payments.
Players
Cape Coral MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93