IDB Provides $18.2 Million Acquisition Loan For Office Property In Fort Lauderdale
FINANCED
$18,200,000
Florida
See Similar DealsOffice176,062 SF
Financed 07/29/2024
FINANCED
IDB Provides $18.2 Million Acquisition Loan For Office Property In Fort Lauderdale
3230-3250 West Commercial Boulevard
See Similar DealsOffice176,062 SF
Financed 07/29/2024
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$103
Total Square Footage:176,062 SF
Transaction Type:Loan
The property asset involved in this transaction is located at 3230-3250 West Commercial Boulevard in Fort Lauderdale. This office asset spans a total of 176,062 square feet and is part of a competitive market. The loan amount secured for the acquisition of this property is $18,200,000, with an acquisition loan type featuring a 5-year term and a fixed interest rate of 6.30%, allowing for 24 months of interest-only payments.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $18,200,000
- Lender: IDB
- Broker: David Hayum - Meridian Capital Group
- Loan Type: Acquisition Loan
- Loan Terms: 5-year term, 6.30%, 24 months Interest-Only
Key individuals involved in this deal include David Hayum, who represented the brokerage firm Meridian Capital Group. The involvement of IDB as the lender was crucial in facilitating the acquisition loan for this property transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,200,000.00
Monthly NOI$121,333.33
Monthly Debt Service$115,036.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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