Square Mile Capital And Pacific Western Bank Provide $93M Construction Loan For Student Housing In Gainesville
50 Northwest 13th Street, Gainesville, Florida 32603, United States
$93,000,000
$7,556/SF
Building Size
12,307 SF
Asset Type
Other
Closing
May 14, 2022
About this deal
AI
The property involved in this closed transaction is located at 50 NW 13th St in Gainesville. It is a student housing asset with a total of 861 beds. The transaction took place on 05/15/2022.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $93,000,000
- Lender: Square Mile Capital - Harris Neubergsaid & Pacific Western Bank - Tom Whitesell
- Landlord: Blue Vista Capital Management & PeakMade Real Estate
- Loan Type: Construction Loan
The lender for this transaction was Square Mile Capital, represented by Harris Neubergsaid, and Pacific Western Bank, represented by Tom Whitesell. The landlord involved in the deal is a collaboration between Blue Vista Capital Management and PeakMade Real Estate.
On the Map
$93,000,000
$7,556/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93