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Great America Holdings Acquires 63-Unit Multifamily Property In Naples With $11.94M Loan From Cohen & Company

5570 16th Place
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This MultiFamily property located in FL received a loan of $11,940,000 almost 2 years ago. The brokers of the deal were Christopher (Chris) Apone and Charles Foschini

A multifamily property located at 5570 16th Place in Naples has been sold in a closed transaction. The property consists of 63 units and was acquired by Great America Holdings. The deal was facilitated by brokers Charles Foschini and Chris Apone from Berkadia. The transaction took place on 05/26/2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $11,940,000
  • Address: 5570 16th Place, Naples
  • Market: Naples
  • Units: 63
  • Lender: Cohen & Company
  • Loan Type: Acquisition Loan
  • Loan Terms: Three-year, floating-rate loan with full-term interest only and two 12-month extensions

The loan for the acquisition of the property was provided by Cohen & Company. The loan is in the amount of $11,940,000 and has a three-year term. It is a floating-rate loan with full-term interest only and two 12-month extensions. Charles Foschini and Chris Apone from Berkadia served as the brokers representing the parties involved in the deal.

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Deals
  • Location
    5570 16th Place Southwest, Naples, Florida 34116, United States5570 16th Place Southwest, Naples, Florida 34116, United States
  • Loan Value
    $11,940,000$11,940,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Christopher (Chris) Apone

Christopher (Chris) Apone

Deals35
Financed$1.8B

Charles Foschini

Charles Foschini

Deals42
Financed$2.3B

Agency

Berkadia

Berkadia

Agency
Deals1087
Volume$45.7B

Cohen & Company

Cohen & Company

Lender
Deals1
Volume$ 4.2B

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Deal Summary

LOAN IMAGE: Charles Foschini & Chris Apone DATE: 05/26/2022 ADDRESS: 5570 16th Place MARKET: Naples ASSET TYPE: Multifamily ~ UNITS: 63 LENDER: Cohen & Company LANDLORD: Great America Holdings BROKERS: Charles Foschini (@Gladesman1) & Chris Apone - Berkadia (@Berkadia) LOAN AMOUNT: $11,940,000 LOAN TYPE: Acquisition Loan LOAN TERMS: three-year, floating-rate loan with full-term interest only and two 12-month extensions

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5570 16th Place

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