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LoanCore Capital Secures $50M Loan For Miami Apartment Complex

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FINANCED
$50,000,000

Florida

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MultiFamily875 SF
Financed 04/11/2019
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Property Image
FINANCED

LoanCore Capital Secures $50M Loan For Miami Apartment Complex

801 Harbor Inn Drive, Coral Springs, FL 33071

See Similar Deals
MultiFamily875 SF
Financed 04/11/2019
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$57,142
Total Square Footage:875 SF
Transaction Type:Loan

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
21 deals$1.5B volume(917) 421-4534
BROKER

Greystone
BROKERAGE



Details

FINANCED
IMAGE: Ronnie Levine and Thomas Wayda DATE: 04/11/2019 ADDRESS: 801 Harbor Inn Dr MARKET: Coral Springs CITY: Miami ASSET TYPE: Apartment complex LENDER: Copperline Partners LANDLORD: LoanCore Capital BROKERS: Ronnie Levine and Thomas Wayda - Meridian Capital Group LOAN AMOUNT: $50,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00