Cornerstone Capital Financing Secures $33 Million Refinance For 200 Unit Multifamily In Altamonte Springs

This transaction involves a multifamily asset located at 360 Wymore Road in Altamonte Springs, Florida. The property consists of 200 units and has a total square footage of 154,000. The loan amount secured for this refinance transaction is $33,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,000,000
• Address: 360 Wymore Road
• Market: Altamonte Springs
• Units: 200
• Square Footage: 154,000
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed, Full Term Interest Only

The financing was secured by Russell Nova and Igor Zakh from Cornerstone Capital Financing. Igor Zakh serves as the Operating Officer, while Russell Nova is involved in Business Development. They coordinated the financing process amidst challenges in the market, including rising interest rates and increased costs for taxes and insurance in the Florida region. Their dedicated team of analysts, underwriters, and loan coordinators played a crucial role in executing the business plan requested.