Emerald City Associates Secures $26.56M Loan For Multifamily Acquisition In Montgomery AL
FINANCED
$26,564,000
Alabama
See Similar DealsMultiFamily460,320 SF
Financed 03/18/2025
FINANCED
Emerald City Associates Secures $26.56M Loan For Multifamily Acquisition In Montgomery AL
3364 Fountain Lane & 4220 Strathmore Drive
See Similar DealsMultiFamily460,320 SF
Financed 03/18/2025
Summary
ALABAMA
Asset Type:MultiFamily
Price Per Square Foot:$57
Total Square Footage:460,320 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,564,000.00
Monthly NOI$177,093.33
Monthly Debt Service$167,902.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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