Matthew Stearns & Raymond Zanca Secures $3.1M Loan For Santa Rosa Beach Office Acquisition
2930 County Highway 30a, Santa Rosa Beach, Florida 32459, United States
$3,132,725
$261/SF
Building Size
12,000 SF
Asset Type
Office
Closing
Dec 28, 2021
AI
The acquisition of a 12,000 square foot boutique office building located at 2930 W County Highway in Santa Rosa Beach, FL was recently financed through a loan. The property is classified as an office asset and is situated in the Santa Rosa Beach market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $3,132,725
- Loan Type: Acquisition
- Loan Terms: The acquisition of the 12K SF boutique office building was financed on a 10-year fixed-rate loan at 73% loan-to-value (LTV).
- Brokers: Matthew Stearns & Raymond Zanca from BlackBear Capital Partners
The loan amount for this transaction was $3,132,725. The loan type was an acquisition loan, indicating that it was used to facilitate the purchase of the office building. The loan terms specified a 10-year fixed-rate loan at a loan-to-value (LTV) ratio of 73%.
Players
Santa Rosa Beach 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
5.06%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93