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Prime Group Secures $65 Million Bridge Loan From MF1 Capital For Fort Myers Multifamily Property

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FINANCED
$65,000,000
Brad Williamson
Mitch Sinberg
Matthew (Matt) Robbins
+ 2

Florida

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MultiFamily264 SF
Financed 02/19/2025
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FINANCED

Prime Group Secures $65 Million Bridge Loan From MF1 Capital For Fort Myers Multifamily Property

9920 Portofino Vineyards Dr

See Similar Deals
MultiFamily264 SF
Financed 02/19/2025
Brad Williamson
Mitch Sinberg
Matthew (Matt) Robbins
+ 2
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$246,212
Total Square Footage:264 SF
Transaction Type:Loan

The property asset involved in this transaction is a multifamily building located at 9920 Portofino Vineyards Drive in Fort Myers. It comprises 264 units with a total square footage of 264. The loan amount secured for this asset is $65,000,000, categorized as a bridge loan with a two-year term.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $65,000,000
  • Address: 9920 Portofino Vineyards Drive
  • Market: Fort Myers
  • Units: 264
  • Square Footage: 264
  • Lender: MF1 Capital
  • Landlord: Prime Group
  • Loan Type: Bridge
  • Loan Terms: two-year term

Key individuals involved in this transaction include brokers Brad Williamson, Kyle Ryan, Mitch Sinberg, Scott Wadler, and Matthew Robbins, all representing Berkadia. This team played a significant role in facilitating the loan arrangement for Prime Group.

Players

Brad Williamson
Berkadia
Brad Williamson
107 deals$6.8B volume(786) 646-2580
BROKER
Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Kyle Ryan
Berkadia
Kyle Ryan
10 deals$275.2M volume
BROKER
MF1 Capital
MF1 Capital
LENDER

Details

FINANCED
IMAGE: Matthew Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler & Kyle Ryan DATE: 02/19/2025 ADDRESS: 9920 Portofino Vineyards Drive MARKET: Fort Myers ASSET TYPE: Multifamily ~ UNITS: 264 ~ SF: 264 LENDER: MF1 Capital LANDLORD: Prime Group BROKERS: Brad Williamson, Kyle Ryan, Mitch Sinberg (@MitchSinberg), Scott Wadler (@SWadler1) & Matthew Robbins - Berkadia (@Berkadia) LOAN AMOUNT: $65,000,000 LOAN TYPE: Bridge LOAN TERMS: two-year term

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,000,000.00

Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00