First Citizens Bank Refinances Amavida Living Community In Fort Myers For $30M
7820 Fanning Ct Fort Myers, FL 33908, USA
$30,000,000
Units
387
Asset Type
Other
Closing
May 17, 2023
About this deal
AI
The Amavida Living Community in Fort Myers, Florida has been refinanced with a $30 million loan provided by First Citizens Bank's Healthcare Finance group, part of CIT division. The community, owned by a Quadrum Global affiliate, consists of 387 senior housing units.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $30,000,000
- Lender: First Citizens Bank - Healthcare Finance - William Douglass & Michael Coiley
- Landlord: Quadrum Global - Jared White
This refinancing deal highlights the tailored financing solutions offered by CIT Healthcare for the healthcare industry.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93