Updated Oct 29, 2024
Madison Realty Capital Provides $114M Loan For Mobile Home Community Portfolio
Atlantic Beach, North Carolina, United States
$114,000,000
Building Size
—
Asset Type
Mobile Home
Closing
Jul 27, 2022
About this deal
AI
A loan of $114,000,000 has been secured for a Mobile Home Community Portfolio located in Cape Canaveral, Cocoa, DeLand, Miami, Ruskin, Mt. Dora, Panama City, West Palm Beach, and Atlantic Beach, NC. The lender for this transaction is Madison Realty Capital, with Josh Zegen representing the company.
Summary of Transaction Details:
- Property Type: Mobile Home
- Transaction Amount: $114,000,000
- Address: Mobile Home Community Portfolio
- Market: Cape Canaveral, Cocoa, DeLand, Miami, Ruskin, Mt. Dora, Panama City, West Palm Beach & Atlantic Beach, NC
Parakeet Communities is the landlord for this asset. Additional details regarding the loan and the other parties involved are not provided in the available information.
Players
Atlantic Beach Mobile Home Market Snapshot
Boundary boundary · Mobile Home · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93