Square Mile Capital And Pacific Western Bank Provide $93M Construction Loan For Student Housing In Gainesville
FINANCED
$93,000,000
Florida
See Similar DealsOther12,307 SF
Financed 05/15/2022
FINANCED
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
See Similar DealsOther12,307 SF
Financed 05/15/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$7,556
Total Square Footage:12,307 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$93,000,000.00
Monthly NOI$620,000.00
Monthly Debt Service$587,823.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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