CREO Provides $31.65M Bridge Loan For Multifamily Property In Port Richey
FINANCED
$31,650,000
Florida
See Similar DealsMultiFamily271,175 SF
Financed 11/16/2021
FINANCED
CREO Provides $31.65M Bridge Loan For Multifamily Property In Port Richey
8540 Robilina Road, Port Richey, FL, USA
See Similar DealsMultiFamily271,175 SF
Financed 11/16/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$116
Total Square Footage:271,175 SF
Transaction Type:Loan
A multifamily property located at 8540 Roblina Road in Port Richey has been involved in a recent closed transaction. The property spans approximately 271,175 square feet and consists of 345 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,650,000
- Address: 8540 Roblina Road
- Market: Port Richey
- Loan Amount: $31,650,000
- Loan Type: Bridge
- Loan Term: 3.50% over libor, 3 year io term
The loan for this transaction was provided by CREO. Jonathan Singer from Strategic Funding acted as the broker in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,650,000.00
Monthly NOI$211,000.00
Monthly Debt Service$200,049.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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