Peter Jago, Chip Abele, Bernard Hsiao, And Michael Hsiao Secure $55.22M Loan For Multifamily Asset In Pompano Beach
FINANCED
$55,219,985
Florida
See Similar DealsMultiFamily216,954 SF
Financed
FINANCED
Peter Jago, Chip Abele, Bernard Hsiao, And Michael Hsiao Secure $55.22M Loan For Multifamily Asset In Pompano Beach
450 East Atlantic Boulevard
See Similar DealsMultiFamily216,954 SF
Financed
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$254
Total Square Footage:216,954 SF
Transaction Type:Loan
The property asset involved in the transaction is a multifamily unit located at 450 East Atlantic Boulevard in Pompano Beach. This complex consists of 214 units, offering a total of 216,954 square feet and has secured a loan amount of $55,219,985 for repositioning purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,219,985
- Address: 450 East Atlantic Boulevard
- Market: Pompano Beach
- Units: 214
- Square Footage: 216,954
- Lender: Benjamin Jacboson, Ty Regnier & Scott Mehlman - Forman Capital
- Borrower: Peter Jago, Chip Abele, Bernard Hsiao, Michael Hsiao
- Broker: Jay Miller - BayBridge Real Estate Capital
The key individuals involved in the transaction include Peter Jago, Chip Abele, Bernard Hsiao, and Michael Hsiao as the borrowers. The lending team comprising Benjamin Jacboson, Ty Regnier, and Scott Mehlman represents Forman Capital in the deal, while Jay Miller is the broker from BayBridge Real Estate Capital facilitating this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,219,985.00
Monthly NOI$368,133.23
Monthly Debt Service$349,027.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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