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Trinsic Residential Refinances Boca Raton Multifamily Property With $92M Loan From MetLife Investment Management - Cushman & Wakefield Brokers

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FINANCED
$92,000,000

Florida

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MultiFamily
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FINANCED

Trinsic Residential Refinances Boca Raton Multifamily Property With $92M Loan From MetLife Investment Management - Cushman & Wakefield Brokers

789 W Yamato Rd, Boca Raton, Florida 33431, United States

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MultiFamily
Financed
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 789 W. Yamato Road in Boca Raton has recently undergone a loan refinancing transaction. The property consists of 322 units, making it an attractive investment in the market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $92,000,000
  • Address: 789 W. Yamato Road
  • Market: Boca Raton
  • Lender: MetLife Investment Management
  • Landlord: Trinsic Residential
  • Brokers: Steven Kohn, Alex Hernandez, Alex Lapidus, and Chris Meloni - Cushman & Wakefield
  • Loan Type: Refinancing Loan
  • Loan Terms: Fixed-rate loan

The loan was facilitated by MetLife Investment Management, providing a fixed-rate loan amount of $92,000,000. The refinancing loan allows the landlord, Trinsic Residential, to optimize their financial strategy for the multifamily property located at 789 W. Yamato Road in Boca Raton. The transaction was brokered by Steven Kohn, Alex Hernandez, Alex Lapidus, and Chris Meloni of Cushman & Wakefield.

Players

Alexander (Alex) Hernandez
26 deals$7.6B volume(212) 841-9237
BROKER

Alex Lapidus Okin
Cushman & Wakefield
27 deals$7.6B volume(212) 841-9239
BROKER

Steve Kohn
Cushman & Wakefield
18 deals$6.8B volume
BROKER

Details

FINANCED
IMAGE: Steven Kohn, Chris Meloni, Alex Hernandez & Alex Lapidus DATE: 12/15/2022 ADDRESS: 789 W. Yamato Road MARKET: Boca Raton ASSET TYPE: Multifamily ~ UNITS: 322 LENDER: MetLife Investment Management LANDLORD: Trinsic Residential BROKERS: Steven Kohn, Alex Hernandez, Alex Lapidus & Chris Meloni - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $92,000,000 LOAN TYPE: Refinancing Loan LOAN TERMS: fixed-rate loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$92,000,000.00

Monthly NOI$613,333.33
Monthly Debt Service$581,502.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00