Popular Bank Loans $7M For Multifamily Property In Palm Beach Gardens
FINANCED
$7,000,000
Texas
See Similar DealsMultiFamily138,600 SF
Financed 08/12/2020
FINANCED
Popular Bank Loans $7M For Multifamily Property In Palm Beach Gardens
4252 Leo Lane, Palm Beach Gardens
See Similar DealsMultiFamily138,600 SF
Financed 08/12/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$50
Total Square Footage:138,600 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 4252 Leo Lane in Palm Beach Gardens. The property consists of 163 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Market: Palm Beach Gardens
- Lender: Popular Bank
- Landlord: Creative Choice Group
- Brokers: Paul Ahmed & Mackenzie Fry – CBRE
The loan amount for this transaction is $7,000,000 with a loan term of 10 years. The brokers representing the deal are Paul Ahmed and Mackenzie Fry from CBRE.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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