Vertix Group Closes $14.9M Bridge Loan For Property In Lighthouse Point
2701 Northeast 42nd Street
$14,900,000
$36/SF
Building Size
413,210 SF
Asset Type
Note / Loan
Closing
Oct 5, 2022
AI
The property involved in this transaction is a Note / Loan with a square footage of 413,210. The address of the property is 2701 NE 42nd Street in Lighthouse Point.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $14,900,000
- Market: Lighthouse Point
The lender in this deal is Vertix Group, represented by Albert Arisso and Frank Hermosa. The loan amount for this transaction is $14,900,000, and it is classified as a Bridge loan.
Players
Lighthouse Point Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93