Updated Oct 29, 2024
Rescore Property Corp. Acquires Development Site In Hollywood For $138M Loan
Hollywood, FL, USA
$138,000,000
Units
369
Asset Type
Single Family Residence
Closing
Feb 18, 2021
About this deal
AI
Located in Hollywood, this development site is a sought-after property in the market. The transaction, which took place on February 18, 2021, involved a loan amounting to $138,000,000 with a term of four years. This asset encompasses 369 units, making it a significant investment opportunity in the area.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $138,000,000
- Market: Hollywood
- Units: 369
Rescore Property Corp., represented by Arthur Falcone and Tony Avila, acted as the landlord in this deal. The lender, Square Mile Capital Management, played a crucial role in providing the necessary funds. Furthermore, Eric McGlynn from Walker & Dunlop served as the broker for this transaction, assisting in facilitating the deal.
Players
Hollywood Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93