Updated Jun 2, 2026
Ralph Gelley & Tyler London Secure $4,000,000 Refinance Loan For Senior Housing In Merritt Island
220 North Grove Street
$4,000,000
$16/SF
Building Size
246,423 SF
Asset Type
Senior Housing
Closing
May 20, 2026
About this deal
AI
The asset involved in the transaction is a senior housing facility located at 220 North Grove Street in Merritt Island. The refinance loan secured for this property amounts to $4,000,000.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $4,000,000
- Loan Type: Refinance
- Lender: Ralph Gelley & Tyler London - Sheridan Capital
The transaction features key individuals Ralph Gelley and Tyler London, who represent Sheridan Capital in facilitating the refinance loan for the senior housing asset.
The senior housing loan at 220 North Grove Street in Merritt Island, Florida financed for $4M in 2026. The building is 246,423 square feet, implying about 16 per square foot on the published price. Named participants on the 220 North Grove Street loan are Ralph Gelley, Tyler London. This page is the Merritt Island, Florida file for the 220 North Grove Street senior housing financed: pricing, party profiles, and other closed senior housing comps from the same Merritt Island sit in the Market section below. Filter that Merritt Island senior housing set by closing date to see what else financed near 220 North Grove Street around 2026. Published consideration for 220 North Grove Street is $4M, dated 2026. Cite this Ralph Gelley & Tyler London Secure $4,000,000 Refinance Loan For Senior Housing In Merritt Island loan when underwriting similar senior housing product around Merritt Island, Florida.
Players
Merritt Island Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
Loading comparables…
Deal FAQ
Visit Ralph Gelley to view all their deals.
Browse Merritt Island senior housing loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93