Updated Oct 29, 2024
Oakley Group Refinances RiverHouse Apartments In Riverside, AL With $13M Loan
300 Riverhouse Loop Riverside, Alabama 35135, Usa
$13,000,000
Units
144
Asset Type
MultiFamily
Closing
Jun 27, 2023
About this deal
AI
The RiverHouse Apartments in Riverside, AL, have undergone impressive renovations along Lake Logan Martin. This multifamily property consists of 144 units, and it is owned by The Oakley Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Address: 300 Riverhouse Loop, Riverside, AL
- Market: Riverside, AL
- Asset Type: Multifamily
- Units: 144
Berkadia, led by Managing Director Tom Genetti, facilitated a $13 million refinancing deal for RiverHouse Apartments. Fannie Mae served as the lender for this transaction. Tom Genetti represented the Oakley Group as their broker in this deal.
Players
Riverside 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93