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Argentic Provides $29.7M Acquisition Loan For Melbourne Multifamily Property

3151 South Babcock Street
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This MultiFamily property located in FL received a loan of $29,725,000 about 2 years ago. The brokers of the deal were Daniel (Danny) Matz, Daniel Fromm, Dustin Stolly, and Jordan (Jordy) Roeschlaub

The closed property transaction in Melbourne involved a multifamily asset located at 3151 S. Babcock Street. The property spans a total square footage of 176,172 and comprises 212 units. The transaction took place on January 20, 2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $29,725,000
  • Address: 3151 S. Babcock Street
  • Market: Melbourne
  • Square Footage: 176,172
  • Number of Units: 212

The loan for this transaction was provided by Argentic. The landlords involved in the deal are Jeff Corkhill and Avi Abadie of Cove Investment Group. The brokers representing the transaction include Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Daniel Matz from Newmark.

The loan amount for this acquisition was $29,725,000.

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Deals
  • Location
    3151 South Babcock Street, Melbourne, Florida 32901, United States3151 South Babcock Street, Melbourne, Florida 32901, United States
  • Loan Value
    $29,725,000$29,725,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency, 1 Lender4 Brokers, 1 Agency, 1 Lender

Agents

Daniel (Danny) Matz

Daniel (Danny) Matz

Deals24
Financed$2.8B

Dustin Stolly

Dustin Stolly

Deals218
Financed$37.6B

Daniel Fromm

Daniel Fromm

Deals60
Financed$4.2B

Jordan (Jordy) Roeschlaub

Jordan (Jordy) Roeschlaub

Deals195
Financed$34.6B

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

Argentic Real Estate Investment

Argentic Real Estate Investment

Lender
Deals14
Volume$ 374.4B

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Deal Summary

LOAN IMAGE: Daniel Matz, Jordan Roeschlaub, Dustin Stolly & Daniel Fromm DATE: 01/20/2022 ADDRESS: 3151 S. Babcock Street MARKET: Melbourne ASSET TYPE: Multifamily ~ SF: 176,172 ~ UNITS: 212 LENDER: Argentic LANDLORD: Jeff Corkhill & Avi Abadie - Cove Investment Group BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub), Daniel Fromm (@Ddwb) & Daniel Matz - Newmark (@Newmark) LOAN AMOUNT: $29,725,000 LOAN TYPE: Acquisition

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3151 South Babcock Street

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