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Axonic Properties Acquires Multifamily Property In Jacksonville With Bridge Loan

Property Image
SOLD
$23,500,000

Florida

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MultiFamily181,060 SF
Sold 10/15/2021
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Property Image
SOLD

Axonic Properties Acquires Multifamily Property In Jacksonville With Bridge Loan

12171 Beach Blvd, Jacksonville, FL, USA

See Similar Deals
MultiFamily181,060 SF
Sold 10/15/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$129
Total Square Footage:181,060 SF
Transaction Type:Sale

Located at 12171 Beach Blvd in Jacksonville, this multifamily property spans over 181,060 square feet. The transaction took place on October 15, 2021. The property is owned by Axonic Properties, with Jonathan Shechtman and Brian Kennedy representing the landlord. The loan for this transaction was provided by Key Bank, with Alan Isenstadt serving as the lender's representative. The loan amount totals $23,500,000 and is classified as a bridge loan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $23,500,000
  • Address: 12171 Beach Blvd
  • Market: Jacksonville
  • Square Footage: 181,060
  • Lender: Key Bank - Alan Isenstadt
  • Landlord: Axonic Properties - Jonathan Shechtman & Brian Kennedy

The brokerage services for this deal were provided by Dhaval Patel from Walker & Dunlop, representing the buyer or seller. The involvement of these key individuals and companies highlights the various roles played in the transaction, ensuring its successful completion.

Details

SOLD
IMAGE: Dhaval Patel, Alan Isenstadt, Brian Kennedy & Jonathan Shechtman DATE: 10/15/2021 ADDRESS: 12171 Beach Blvd MARKET: Jacksonville ASSET TYPE: Multifamily ~ SF: 181,060 LENDER: Key Bank - Alan Isenstadt (@Can__I_Kick_It) LANDLORD: Axonic Properties - Jonathan Shechtman (@ShecDog) & Brian Kennedy BROKER: Dhaval Patel - Walker & Dunlop LOAN AMOUNT: $23,500,000 LOAN TYPE: Bridge

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,253,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87