Updated Oct 29, 2024
Castellan Real Estate Partners Provides $18M Bridge Loan For Fort Lauderdale Multifamily
Fort Lauderdale, Florida, United States
$18,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 7, 2022
About this deal
AI
An $18 million bridge loan has been secured for a multifamily property in Fort Lauderdale. The loan was provided by Castellan Real Estate Partners. The transaction involved the assistance of brokers Morris Diamant and David Leichtung from Meridian Capital Group.
Summary of transaction details
- Asset Type: Multifamily
- Date: 07/01/2022
- Market: Fort Lauderdale
- Lender: Castellan Real Estate Partners
- Brokers: Morris Diamant & David Leichtung - Meridian Capital Group
- Loan Amount: $18,000,000
- Loan Type: Bridge Loan
The bridge loan played a crucial role in facilitating the acquisition of the multifamily property. Morris Diamant and David Leichtung from Meridian Capital Group acted as the representatives for the buyer or seller in this transaction, ensuring a smooth process and successful outcome.
On the Map
$18,000,000
MultiFamily
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Players
Fort Lauderdale 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93