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2610 Mirabeau Dr. Huntsvill...

Urban Standard Capital Provides $10.5M Loan For Multifamily Property Acquisition In Huntsville, AL
FINANCEDMultiFamily

Urban Standard Capital Provides $10.5M Loan For Multifamily Property Acquisition In Huntsville, AL

2610 Mirabeau Dr. Huntsville, AL 35805, USA

$10,500,000

$61/SF

Building Size

169,696 SF

Asset Type

MultiFamily

Closing

Sep 8, 2022

AI

Located at 2610 Mirabeau Dr. in Huntsville, AL, this multifamily property spans across 169,696 square feet and comprises 229 units. The transaction, which occurred on 09/09/2022, involved an acquisition loan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,500,000
  • Lender: Urban Standard Capital
  • Lender's Representatives: Seth Weissman, Bean, Charlie Brosens & Robert Levine

Urban Standard Capital (USC) has made its way to Alabama with this bridge and construction lending opportunity. For inquiries relating to the loan, contact Charlie at [email protected] or Robert at [email protected].

Players

Seth Weissman

Urban Standard Capital

Lender

$590.5M

vol

56 deals

Lender
Urban Standard Capital
Urban Standard CapitalLender

Huntsville 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

1.51%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93