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
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.
Players
Merritt Island 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93