The Reich Companies Secures $4.9M Construction Loan For Luxury Single Family Residence In Boca Raton
FINANCED
$4,978,000
Florida
See Similar DealsSingle Family Residence
Financed 11/03/2023
FINANCED
The Reich Companies Secures $4.9M Construction Loan For Luxury Single Family Residence In Boca Raton
7234 Ayrshire Lane
See Similar DealsSingle Family Residence
Financed 11/03/2023
Summary
FLORIDA
Asset Type:Single Family Residence
Transaction Type:Loan
The luxury single-family residence located at 7234 Ayrshire Lane in Boca Raton, FL was the subject of a recent property transaction. The property was financed through a construction loan with a total amount of $4,978,000. The loan terms included an 18-month interest-only fixed-rate loan, allowing for the construction of the residence.
Summary of transaction details
- Property Type: Single Family Residence
- Transaction Amount: $4,978,000
- Address: 7234 Ayrshire Lane, Boca Raton, FL
- Market: Boca Raton, FL
The transaction was facilitated by Black Bear Capital Partners, with Scott Modelski representing the brokerage agency. Scott Modelski played a crucial role in securing the construction loan for the property on behalf of The Reich Companies, the landlord.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,978,000.00
Monthly NOI$33,186.67
Monthly Debt Service$31,464.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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