Emerald City Associates Secures $26.56M Loan For Multifamily Acquisition In Montgomery AL
3364 Fountain Lane & 4220 Strathmore Drive
$26,564,000
$57/SF
Building Size
460,320 SF
Asset Type
MultiFamily
Closing
Mar 18, 2025
AI
This transaction involves a multifamily asset located at 3364 Fountain Lane & 4220 Strathmore Drive in the Montgomery, AL market. The loan amount for this acquisition is $26,564,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $26,564,000
- Lender: RRA Capital
- Sponsor: Emerald City Associates
- Sponsor's Representative: Josh Crowell - Colliers
- Lender's Representative: Drew Schneider - RRA Capital
- Loan Type: Acquisition
Key individuals involved in this transaction include Josh Crowell representing Emerald City Associates through Colliers, and Drew Schneider representing RRA Capital in connection with the loan. Communication regarding loan inquiries can be directed to Drew Schneider at [email protected].
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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93