Marcus & Millichap Arranges $6.75M Loan For Hollywood Medical Office On Hollywood Blvd
2662 Hollywood Blvd, Hollywood, FL, USA
$6,750,000
Building Size
—
Asset Type
Office
Closing
Dec 13, 2021
About this deal
AI
A medical office property located at 2662 & 2700 Hollywood Blvd in the Hollywood market has recently closed a loan transaction. The loan was facilitated by Chris Marks from Marcus & Millichap.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $6,750,000
- Loan Terms: The loan has a five-year term with a three-year interest-only period at an interest rate of 3.65 percent. It was structured with a loan-to-value (LTV) ratio of 55 percent and a 25-year amortization.
The deal was structured with favorable terms, offering a three-year period where interest-only payments are required. The loan has an attractive interest rate of 3.65 percent. With an LTV ratio of 55 percent, the buyer was able to secure financing for the medical office property at 2662 & 2700 Hollywood Blvd.
Chris Marks from Marcus & Millichap played a crucial role as the broker representing the parties involved in the loan transaction. His expertise and negotiation skills contributed to the successful completion of the deal.
On the Map
$6,750,000
Office
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Hollywood 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
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93