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10211 Tamiami Trail, Punta ...

Meridian Capital Group Arranges $8.1M Loan For Hampton Manor Of Punta Gorda
FINANCEDSenior Housing

Meridian Capital Group Arranges $8.1M Loan For Hampton Manor Of Punta Gorda

10211 Tamiami Trail, Punta Gorda, FL...

$8,100,000

Building Size

Asset Type

Senior Housing

Closing

Nov 22, 2023

AI

Located at 10211 Tamiami Trail in Punta Gorda, FL, the property involved in the transaction is Hampton Manor of Punta Gorda, an assisted living and memory care facility. The construction financing for this senior housing asset was arranged by Meridian Capital Group for $8.1 million. The loan, provided by an unknown correspondent life insurance company, features a floating rate over Prime and full-term interest-only payments. Upon completion, Hampton Manor of Punta Gorda will offer 91 assisted living and memory beds.

Summary of transaction details:

For this deal, SVP Peter Martz and Mark Krupenia negotiated the four-year loan for Hampton Manor of Punta Gorda. Against the challenges faced during COVID, Meridian was successful in securing financing by showcasing the strength of the sponsor and their proven track record in similar deals. The lender recognized these qualities, resulting in terms that exceeded the clients' expectations.

Players

Peter Martz

Meridian Capital Group

Broker

$293.4M

vol

6 deals

Broker
Uc
Unknown Correspondent life insurance companyLender

Punta Gorda Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.96%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93