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Oakley Group Refinances RiverHouse Apartments In Riverside, AL With $13M Loan

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FINANCED
$13,000,000

Alabama

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MultiFamily
Financed 06/27/2023
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FINANCED

Oakley Group Refinances RiverHouse Apartments In Riverside, AL With $13M Loan

300 Riverhouse Loop Riverside, Alabama 35135, Usa

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MultiFamily
Financed 06/27/2023
the dealplayerscompscontact
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Summary

ALABAMA
Asset Type:MultiFamily
Transaction Type:Loan

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

Fannie Mae
Fannie Mae
LENDER
Oakley Group
Oakley Group
LANDLORD

Details

FINANCED
IMAGE: Tom Genetti DATE: 06/27/2023 ADDRESS: 300 Riverhouse Loop MARKET: Riverside, AL ASSET TYPE: Multifamily ~ UNITS: 144 LENDER: Fannie Mae LANDLORD: Oakley Group BROKER: Tom Genetti - Berkadia LOAN AMOUNT: $13,000,000 LOAN TYPE: Refinance NOTE: Berkadia, led by Managing Director Tom Genetti, facilitated a $13 million refinancing deal for RiverHouse Apartments in Riverside, AL. The property, owned by The Oakley Group, underwent impressive renovations along Lake Logan Martin.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,000,000.00

Monthly NOI$86,666.67
Monthly Debt Service$82,168.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00