JKM Developers & Lotis Acquires Multifamily In Tamarac With $45M Loan From Limekiln Real Estate
FINANCED
$45,000,000
Florida
See Similar DealsMultiFamily800 SF
Financed 06/08/2021
FINANCED
JKM Developers & Lotis Acquires Multifamily In Tamarac With $45M Loan From Limekiln Real Estate
9141 West Commercial Boulevard, Tamarac, FL, USA
See Similar DealsMultiFamily800 SF
Financed 06/08/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$56,250
Total Square Footage:800 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$45,000,000.00
Monthly NOI$300,000.00
Monthly Debt Service$284,430.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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