Updated Oct 28, 2024
CREO Provides $31.65M Bridge Loan For Multifamily Property In Port Richey
8540 Robilina Road, Port Richey, FL, USA
$31,650,000
$116/SF
Building Size
271,175 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
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.
On the Map
$31,650,000
$116/SF
MultiFamily
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Port Richey MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93