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1512 East 12th Avenue, Tamp...

GMF Capital Sells Multifamily Property In Tampa For $90.7M With Lender Square Mile Capital - CBRE Brokers Handle Mortgage
SOLDMultiFamily

GMF Capital Sells Multifamily Property In Tampa For $90.7M With Lender Square Mile Capital - CBRE Brokers Handle Mortgage

1512 East 12th Avenue, Tampa, Florida 33605, United States

$90,700,000

$341/SF

Building Size

265,879 SF

Asset Type

MultiFamily

Closing

Apr 21, 2022

AI

The multifamily property located at 1512 E. 12th Ave in Tampa has been sold for a total price of $90,700,000. The property consists of 240 units, with an average price per unit of $377,917. The sale took place on 04/22/2022.

Summary of Transaction Details:

The transaction was facilitated by the mortgage brokers Eric Fixler, Chandler Kaye, and Chris Smiles from CBRE, representing the interests of the seller and working with Square Mile Capital as the lender.

Players

Eric Fixler

Regions Real Estate Capital

Broker

$246.9M

vol

4 deals

Broker
GMF Capital
GMF CapitalSeller
Square Mile Capital
Square Mile CapitalLender

Tampa MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93