Vertix Group Refinances Office Buildings In Clearwater & Fort Lauderdale For $24M
2536 Countryside Blvd, Clearwater, FL, USA
$24,000,000
$264/SF
Building Size
90,683 SF
Asset Type
Office
Closing
Sep 28, 2021
AI
A refinance loan transaction has taken place involving an office property located at 2536 Countryside Blvd., 19321 US Hwy 19 North, and 2455 East Sunrise Blvd. The property is situated in Clearwater and Fort Lauderdale and spans a total area of 269,843 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,000,000
- Market: Clearwater & Fort Lauderdale
The loan was provided by Vertix Group, represented by Albert Arisso and Frank Hermosa. They facilitated the refinancing loan amount of $24,000,000 for the office property.
Players
Clearwater Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93