LoanCore Capital Secures $50M Loan For Miami Apartment Complex
801 Harbor Inn Drive, Coral Springs, FL 33071
$50,000,000
$57,142/SF
Building Size
875 SF
Asset Type
MultiFamily
Closing
Apr 10, 2019
AI
An apartment complex located at 801 Harbor Inn Dr in Coral Springs, Miami was recently involved in a closed transaction. The deal was facilitated by Ronnie Levine and Thomas Wayda of Meridian Capital Group, acting as brokers representing the parties involved. Copperline Partners provided a loan of $50,000,000 for this transaction, with LoanCore Capital acting as the landlord.
Summary of transaction details
- Property Type: Apartment complex
- Transaction Amount: $50,000,000
- Address: 801 Harbor Inn Dr
- Market: Coral Springs, Miami
The apartment complex deal at 801 Harbor Inn Dr in Coral Springs, Miami was facilitated by Ronnie Levine and Thomas Wayda of Meridian Capital Group. Copperline Partners provided a loan of $50,000,000 for this transaction, while LoanCore Capital acted as the landlord.
Players
Coral Springs 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93