Updated Oct 28, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $90,700,000
- Address: 1512 E. 12th Ave, Tampa
- Market: Tampa
- Seller: GMF Capital
- Lender: Square Mile Capital
- Mortgage Brokers: Eric Fixler, Chandler Kaye & Chris Smiles - CBRE
- Units: 240
- Price Per Unit: $377,917
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
Tampa 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93