Vertix Group Closes $14.9M Bridge Loan For Property In Lighthouse Point
FINANCED
$14,900,000
Florida
See Similar DealsNote / Loan413,210 SF
Financed 10/05/2022
FINANCED
Vertix Group Closes $14.9M Bridge Loan For Property In Lighthouse Point
2701 Northeast 42nd Street
See Similar DealsNote / Loan413,210 SF
Financed 10/05/2022
Summary
FLORIDA
Asset Type:Note / Loan
Price Per Square Foot:$36
Total Square Footage:413,210 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,900,000.00
Monthly NOI$99,333.33
Monthly Debt Service$94,178.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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