Estates at Palm Bay
A multifamily property in Fort Walton Beach, Florida. Securitized in 1 CMBS deal in 2024.
$87.2MAppraised value (latest deal)
95.7%Occupancy
$5.3MUnderwritten NOI
6.1%Implied cap rate
- Address
- 302 Blessinger Drive, Fort Walton Beach, FL 32547
- Property type
- Multifamily · Garden
- Year built
- 1992
- Size
- 300 Units
- Sponsor
- Lurin Advisors, LLC
- Loan purpose
- Refinance
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BBCMS 2024-5C29 | 2024-09-18 | $87.2M | 95.7% | $5.3M | 6.1% | $61.0M | 70.0% | 1.29x | 424B |
Historical NOI reported in BBCMS 2024-5C29
| Period ending | NOI |
|---|---|
| 6/30/2024 | $5.2M |
| 12/31/2023 | $4.9M |
| 12/31/2022 | $4.3M |
More CMBS properties in Florida →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.