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803 Promenade Way

Updated Mar 11, 2025

Berkshire Residential Investments Secures $135M Acquisition Loan For Jupiter Multifamily
FINANCEDMultiFamily

Berkshire Residential Investments Secures $135M Acquisition Loan For Jupiter Multifamily

803 Promenade Way

$202,500,000

$3,564/SF

Building Size

56,814 SF

Asset Type

MultiFamily

Closing

May 16, 2022

About this deal

AI

The multifamily property located at 803 Promenade Way & 803 University Boulevard in Jupiter has been involved in a loan transaction. The property consists of 390 units and is owned by Berkshire Residential Investments.

Summary of transaction details

The loan amount for this transaction is $135,000,000. The lender, Mesa West Capital, is represented by Russell Frahm. The landlord, Berkshire Residential Investments, is represented by Cara Nelson and Oriana Montani from DLA Piper. Mark Osher, Eric Steiglitz, and Zak Baron from Gibson, Dunn & Crutcher, as well as Matt Williams and James Maynard from Newmark, are also involved in representing the lender in this deal.

On the Map

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$202,500,000

$3,564/SF

MultiFamily

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Players

Mark Osher

Gibson, Dunn & Crutcher

Broker

$515.5M

vol

3 deals

Broker
Berkshire Residential Investments
Berkshire Residential InvestmentsLender
Berkshire Residential Investments
Berkshire Residential InvestmentsLandlord
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Jupiter MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $3.6K per square foot on a published $202.5M for 56,814 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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