Western & Southern Life Insurance Refinances Special Purpose Property In Pompano Beach With $19.75M Loan
1001 Northeast 1st Avenue
$19,750,000
Building Size
—
Asset Type
—
Closing
Jun 15, 2022
About this deal
AI
Located at 1001 NE 1st Ave in Pompano Beach, this special purpose property spans 97,000 square feet. It was involved in a recent closed transaction for a loan refinance.
Summary of transation details
- Property Type: Special Purpose
- Transaction Amount: $19,750,000
- Market: Pompano Beach
- Date: 06/16/2022
- Image: John Darrow
The lender, Western & Southern Life Insurance Company, provided the loan for the transaction. The loan terms were a cash-out refinance, with the rate locked at application. The borrower was represented by John Darrow from Slatt Capital.
On the Map
$19,750,000
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93