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Rescore Property Corp. Acquires Development Site In Hollywood For $138M Loan

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FINANCED
$138,000,000
Anthony (TJ) Paradise
Jenna Cooper
Eric McGlynn
+ 2

Florida

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Single Family Residence
Financed 02/18/2021
the dealplayerscompscontact
Property Image
FINANCED

Rescore Property Corp. Acquires Development Site In Hollywood For $138M Loan

Hollywood, FL, USA

See Similar Deals
Single Family Residence
Financed 02/18/2021
Anthony (TJ) Paradise
Jenna Cooper
Eric McGlynn
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Transaction Type:Loan

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

Eric McGlynn
Walker & Dunlop
Eric McGlynn
6 deals$547.4M volume
BROKER
Anthony (TJ) Paradise
Sotheby's International Realty
Anthony Paradise
7 deals$158.5M volume
BROKER
Jenna Cooper
Compass
Jenna Cooper
7 deals$176.9M volume
BROKER
Square Mile Capital
Square Mile Capital
LENDER
AF
Art Falcone
12 deals$771.7M volume
LANDLORD
TA
Tony Avila
4 deals$537M volume
LANDLORD

Details

FINANCED
IMAGE: Arthur Falcone, Tony Avila & Eric McGlynn DATE: 02/18/2021 MARKET: Hollywood ASSET TYPE: Development site ~ UNITS: 369 LENDER: Square Mile Capital Management LANDLORD: Rescore Property Corp. - Arthur Falcone & Tony Avila BROKER: Eric McGlynn - Walker & Dunlop AMOUNT: $138,000,000 ~ TERMS: four-year

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$138,000,000.00

Monthly NOI$920,000.00
Monthly Debt Service$872,253.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00