Updated Oct 29, 2024
Seminole Boosters/FSU Secures $23M Refinancing Loan For Tallahassee Multifamily Property
805 W Madison St, Tallahassee, FL 32304, USA
$23,000,000
$26,869/SF
Building Size
856 SF
Asset Type
MultiFamily
Closing
Aug 16, 2020
About this deal
AI
The multifamily property located at 805 West Madison Street in Tallahassee has recently undergone a closed transaction. The property, owned by Seminole Boosters/FSU, has been refinanced with a loan amount of $23,000,000 provided by Ameris. The loan terms include a 10-year fixed-rate refinancing with a 3.66% interest rate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Lender: Ameris
- Landlord: Seminole Boosters/FSU
- Loan Terms: 10-year fixed-rate refinancing, 3.66% interest rate
- Broker: Brad Williamson
Brad Williamson, representing the borrower, played a key role in this transaction. With his expertise, the borrower was able to secure favorable loan terms for the refinancing of the multifamily property on West Madison Street.
Players
Tallahassee MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Brad Williamson to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93