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Old Vineland Road

Churchill Real Estate Provides $35M Construction Loan For Multi-Family Development In Kissimmee, FL
FINANCEDMultiFamily

Churchill Real Estate Provides $35M Construction Loan For Multi-Family Development In Kissimmee, FL

Old Vineland Road

$35,000,000

$145/SF

Building Size

240,000 SF

Asset Type

MultiFamily

Closing

Feb 17, 2022

AI

Located on Old Vineland Road in Kissimmee, FL, this multi-family property spans over 240,000 square feet. The property was acquired by a Miami-based developer.

Summary of transaction details:

  • Property Type: Multi-Family
  • Transaction Amount: $35,000,000
  • Address: Old Vineland Road, Kissimmee, FL
  • Market: Kissimmee, FL

The loan for this property was provided by Churchill Real Estate in the form of a $35,000,000 construction loan. Jeff Rosenfeld and Sean Robertson, representatives from Churchill Real Estate, facilitated the loan. Max La Cava and Brian Gaswirth, brokers from JLL, represented the parties involved in the transaction.

Churchill Real Estate is known for its active involvement in providing stretch-senior construction loans in the Build-to-Rent space. For loan inquiries, you can reach out to Jeff Rosenfeld at [email protected] or Sean Robertson at [email protected].

Players

Brian Gaswirth

JLL

Broker

$6.3B

vol

45 deals

Broker
Churchill Real Estate
Churchill Real EstateLender

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