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6964 Airport Boulevard & 57...

Arbor Realty Trust Provides $14.7M Refinance Loan For Multifamily Property In Mobile, AL
FINANCEDMultiFamily

Arbor Realty Trust Provides $14.7M Refinance Loan For Multifamily Property In Mobile, AL

6964 Airport Boulevard & 5725 Old Pascagoula Road

$14,747,000

Building Size

Asset Type

MultiFamily

Closing

Jun 19, 2023

AI

A $14,747,000 loan has been secured for the multifamily property located at 6964 Airport Boulevard & 5725 Old Pascagoula Road in Mobile, AL. The property consists of 334 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $14,747,000
  • Address: 6964 Airport Boulevard & 5725 Old Pascagoula Road, Mobile, AL
  • Market: Mobile, AL
  • Units: 334

The loan was provided by Arbor Realty Trust for refinancing purposes. Alex Jaffa & Michael Muller from Eastern Union acted as brokers in the deal.

Players

Alex Jaffa

Eastern Union

Broker

$216M

vol

10 deals

Broker
Arbor Realty Trust
Arbor Realty TrustLender

Mobile 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

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93