Tusk Equity Partners Acquires Multifamily Property In Montgomery, AL For $8.1M
2259 Bonaparte Boulevard, Montgomery, Alabama 36116, United States
$8,075,000
$48/SF
Building Size
166,630 SF
Asset Type
MultiFamily
Closing
Apr 27, 2022
AI
The multifamily property located at 2259 Bonaparte Blvd. in Montgomery, AL has been the subject of a recent transaction. The property spans approximately 166,630 square feet and consists of 175 units. It was acquired through an acquisition loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,075,000
- Loan Type: Acquisition
- Loan Terms: 3-year full term interest-only with an 85% loan-to-value ratio
Tusk Equity Partners, represented by Moshe Horn, acted as the landlord in this deal. The brokerage services were provided by Steven Vegh and Phil Goldstein from Westwood Realty Associates.
Players
Montgomery MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93