S3 Capital Partners Provides $8.7M Refinance And Construction Loan For Fort Lauderdale Multifamily Property
$8,700,000
$314/SF
Building Size
27,700 SF
Asset Type
MultiFamily
Closing
Sep 17, 2024
AI
The asset involved in this transaction is a multifamily property located in Fort Lauderdale, FL. It encompasses a total of 27,700 square feet and comprises 6 units, with the transaction structured as a refinance and construction loan amounting to $8,700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,700,000
- Market: Fort Lauderdale, FL
- Lender: Robert Schwartz & Steven Jemal - S3 Capital Partners
- Broker: Ken Klein - Klein Kapital Advisors
- Loan Type: Refinance + construction
The key individuals involved in the deal include Robert Schwartz and Steven Jemal from S3 Capital Partners, who served as the lenders, while Ken Klein from Klein Kapital Advisors acted as the broker for the transaction. A note from the lender mentions that inquiries regarding the loan should be directed to Steven at [email protected].
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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93