Updated Dec 4, 2024
Reserve At Boardwalk Holdings Secures $45.5 Million Bridge Loan From Ease Capital For Multifamily Asset
8800 Boardwalk Trail Drive
$45,500,000
$208/SF
Building Size
218,389 SF
Asset Type
MultiFamily
Closing
Sep 4, 2024
About this deal
AI
The property asset involved in the transaction is located at 8800 Boardwalk Trail Drive in Temple Terrace, FL. This multifamily asset encompasses a total of 218,389 square feet and includes 290 units. The loan amount secured for this property is $45,500,000, classified as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,500,000
- Address: 8800 Boardwalk Trail Drive
- Market: Temple Terrace, FL
- Square Footage: 218,389
- Units: 290
- Lender: Ease Capital
- Originators: Barclay Lynch & Trevor Hanson
- Landlord: Reserve at Boardwalk Holdings
- Landlord's Representatives: Mark Vinitsky & Ralph Wurzburger - Lument
- Loan Type: Bridge
The key individuals in this transaction include Barclay Lynch and Trevor Hanson, who served as the originators for the loan, while Mark Vinitsky and Ralph Wurzburger represented the landlord, Reserve at Boardwalk Holdings, during the deal process.
On the Map
$45,500,000
$208/SF
MultiFamily
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Players
Temple Terrace 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93