Updated Oct 29, 2024
Old Vineland Road LLC Secures $35M Construction Loan For Kissimmee Multifamily Project
Old Vineland Road
$35,000,000
Units
210
Asset Type
MultiFamily
Closing
Oct 3, 2022
About this deal
AI
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.
Players
Kissimmee 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93