Matthews Real Estate Investment Services Secures $7.35M Refinance Loan For Phoenix Multifamily
FINANCED
$7,350,000
Arizona
See Similar DealsMultiFamily29,536 SF
Financed 06/07/2022
FINANCED
Matthews Real Estate Investment Services Secures $7.35M Refinance Loan For Phoenix Multifamily
3101 North 36th Street, Phoenix, Arizona 85018, United States
See Similar DealsMultiFamily29,536 SF
Financed 06/07/2022
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$248
Total Square Footage:29,536 SF
Transaction Type:Loan
The multifamily property located at 3101 N. 36th St. in Phoenix, AZ has recently undergone a refinance transaction. The property spans approximately 29,536 square feet and consists of 45 units. The deal was facilitated by Gregory Kavoklis from Matthews Real Estate Investment Services and Jim Brandon.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $7,350,000
The loan obtained for the refinance is valued at $7,350,000. It features a 7-year fixed term with an interest rate of 3.70%. The loan offers a 12-month interest-only payment plan and has limited recourse. Additionally, there is a stepdown prepayment provision in place.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,350,000.00
Monthly NOI$49,000.00
Monthly Debt Service$46,457.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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