Updated Mar 6, 2025
Axonic Properties Acquires Multifamily Property In Jacksonville With Bridge Loan
12171 Beach Blvd, Jacksonville, FL, USA
$23,500,000
$129/SF
Building Size
181,060 SF
Asset Type
MultiFamily
Closing
Oct 14, 2021
About this deal
AI
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.
On the Map
$23,500,000
$129/SF
MultiFamily
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Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93