Blue Iron Development Secures $67.5 Million Refinance Loan From Dwight Mortgage Trust In Sarasota Springs
FINANCED
New York
See Similar DealsMultiFamily
Financed 12/31/2025
FINANCED
Blue Iron Development Secures $67.5 Million Refinance Loan From Dwight Mortgage Trust In Sarasota Springs
1 Frst Rdg Blvd Saratoga Springs, Ny 12866
See Similar DealsMultiFamily
Financed 12/31/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 1 Forest Ridge Blvd, Sarasota Springs, NY, comprising 260 units with a loan amount of $67,500,000 utilized for refinance purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,500,000
- Lender: David Scheer & Alex Izso - Dwight Mortgage Trust
- Landlord: Blue Iron Development
- Loan Type: Refinance
- Date: 12/31/2025
The key individuals involved in this transaction include David Scheer, who serves as a lender representative, and Rachel Jones, who is also linked to this deal. For any loan inquiries, contact David Scheer at [email protected].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$67,500,000.00
Monthly NOI$450,000.00
Monthly Debt Service$426,645.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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