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
About this deal
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.
The note / loan loan at 2701 Northeast 42nd Street in Lighthouse Point, Florida financed for $14.9M in 2022. The building is 413,210 square feet, implying about 36 per square foot on the published price. Named participants on the 2701 Northeast 42nd Street loan are Albert Arisso, Frank Hermosa. This page is the Lighthouse Point, Florida file for the 2701 Northeast 42nd Street note / loan financed: pricing, party profiles, and other closed note / loan comps from the same Lighthouse Point sit in the Market section below. Filter that Lighthouse Point note / loan set by closing date to see what else financed near 2701 Northeast 42nd Street around 2022. Published consideration for 2701 Northeast 42nd Street is $14.9M, dated 2022. Cite this Vertix Group Closes $14.9M Bridge Loan For Property In Lighthouse Point loan when underwriting similar note / loan product around Lighthouse Point, Florida.
Players
Lighthouse Point Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Loan transactions
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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