JKM Developers & Lotis Acquires Multifamily In Tamarac With $45M Loan From Limekiln Real Estate
9141 West Commercial Boulevard, Tamarac, FL, USA
$45,000,000
$56,250/SF
Building Size
800 SF
Asset Type
MultiFamily
Closing
Jun 7, 2021
AI
A multifamily property located at 9141 West Commercial Boulevard in Tamarac has been involved in a closed transaction. The property, owned by JKM Developers and Lotis, consists of 211 units on a 6.94-acre lot. The transaction was facilitated by Aztec Group, with Sean Harrington and Joel Zusman representing the buyers.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Market: Tamarac
- Lender: Limekiln Real Estate
- Loan Terms: Full term interest only
- Units: 211
- Acres: 6.94
The deal was financed by Limekiln Real Estate, providing a loan of $45,000,000. The loan terms include full-term interest only. Joel Zusman and Sean Harrington, representing Aztec Group, played a crucial role in brokering the transaction between JKM Developers, Lotis, and the lender.
Players
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93