Lincoln Property Co. Secures $102.9M Construction Loan For Doral Multifamily
3450 Northwest 85th Court, Doral, Florida 33122, United States
$102,950,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 24, 2022
AI
The property involved in this transaction is a multifamily asset located at 3450 NW 85th Court in Doral. It spans across 3.38 acres and consists of 391 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $102,950,000
- Address: 3450 NW 85th Court, Doral
- Market: Doral
- Units: 391
- Acres: 3.38
In this transaction, the lender of the construction loan was Santander Bank, represented by Tim Wennes. The landlord of the property is Lincoln Property Co., with Tim Byrne as their representative.
Players
Doral MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93