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Asher Bittman Of Sheridan Capital Provides $5.65M Bridge Loan For Birmingham Multifamily Property

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FINANCED
$5,650,000

Alabama

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MultiFamily98,726 SF
Financed 08/22/2024
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FINANCED

Asher Bittman Of Sheridan Capital Provides $5.65M Bridge Loan For Birmingham Multifamily Property

925 Beacon Parkway East

See Similar Deals
MultiFamily98,726 SF
Financed 08/22/2024
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Summary

ALABAMA
Asset Type:MultiFamily
Price Per Square Foot:$57
Total Square Footage:98,726 SF
Transaction Type:Loan

The asset involved in the transaction is a multifamily property located at 925 Beacon Parkway East, Birmingham, AL, comprising 98,726 square feet and 94 units. The loan amount for this property is $5,650,000, classified as a bridge loan.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $5,650,000
  • Lender: Asher Bittman - Sheridan Capital
  • Broker: Josh Crowell - Colliers International
  • Date: 08/22/2024

This transaction involved key participants including Asher Bittman, who acted as the lender through Sheridan Capital, and Josh Crowell, who represented the deal through Colliers International. Their roles were critical in facilitating the financing for the property.

Players

Josh Crowell
2 deals$32.2M volume
BROKER

Sheridan Capital
LENDER

Details

FINANCED
IMAGE: Asher Bittman & Josh Crowell DATE: 08/22/2024 ADDRESS: 925 Beacon Parkway East MARKET: Birmingham, AL ASSET TYPE: Multifamily ~ SF: 98,726 ~ UNITS: 94 LENDER: Asher Bittman - Sheridan Capital BROKER: Josh Crowell - Colliers International (@ColliersInternational) LOAN AMOUNT: $5,650,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,650,000.00

Monthly NOI$37,666.67
Monthly Debt Service$35,711.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00