Matthew Stearns & Raymond Zanca Secures $3.1M Loan For Santa Rosa Beach Office Acquisition
FINANCED
$3,132,725
Florida
See Similar DealsOffice12,000 SF
Financed 12/29/2021
FINANCED
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
See Similar DealsOffice12,000 SF
Financed 12/29/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$261
Total Square Footage:12,000 SF
Transaction Type:Loan
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%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,132,725.00
Monthly NOI$20,884.83
Monthly Debt Service$19,800.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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