EDEN Living Secures $55.12M Construction Loan For 214-Unit Multifamily In Port St. Lucie
$55,120,000
$226/SF
Building Size
243,928 SF
Asset Type
MultiFamily
Closing
Dec 15, 2023
AI
The 214-unit multifamily property located at the northwest corner of SW Village Pkwy and Hegener Dr in Port St. Lucie has undergone a closed transaction. Spanning over 243,928 square feet, this property is owned by EDEN Living, represented by Jay Jacobson, Jay Massirman, and Marc Chasin. The brokers involved in this deal were Max La Cava, Kenny Cutler, and Shane Ciacci from JLL.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,120,000
- Loan Type: Construction Loan
The loan obtained for this property amounted to $55,120,000, securing a construction loan.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93