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801 Harbor Inn Drive, Coral...

LoanCore Capital Secures $50M Loan For Miami Apartment Complex
FINANCEDMultiFamily

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

Thomas Wayda

Greystone

Broker

$1.5B

vol

21 deals

Broker
Greystone
GreystoneBrokerage
Copperline Partners
Copperline PartnersLender
LoanCore Capital
LoanCore CapitalLandlord

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