Old Vineland Road LLC Secures $35M Construction Loan For Kissimmee Multifamily Project
FINANCED
$35,000,000
Florida
See Similar DealsMultiFamily
Financed 10/03/2022
FINANCED
Old Vineland Road LLC Secures $35M Construction Loan For Kissimmee Multifamily Project
Old Vineland Road
See Similar DealsMultiFamily
Financed 10/03/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
Old Vineland Rd in Kissimmee is the location of a recently closed property transaction. The asset involved in this transaction is a multifamily property with a total of 210 units. The deal was facilitated by JLL Capital Markets on behalf of the landlord, Old Vineland Road LLC. Max La Cava, Brian Gaswirth, and Drew Jennewein from JLL Capital Markets represented the landlord in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Loan Type: Construction Loan
- Loan Terms: Three-year, non-recourse loan
The loan for this property transaction amounted to $35,000,000. It was a three-year, non-recourse construction loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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