Asher Bittman Of Sheridan Capital Provides $24 Million Bridge Loan For Multifamily Asset In Phoenix
FINANCED
$24,000,000
Arizona
See Similar DealsMultiFamily273,288 SF
Financed 09/10/2024
FINANCED
Asher Bittman Of Sheridan Capital Provides $24 Million Bridge Loan For Multifamily Asset In Phoenix
N 45th Ave
See Similar DealsMultiFamily273,288 SF
Financed 09/10/2024
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$87
Total Square Footage:273,288 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily complex located at 2627 N 45th Ave, Phoenix, AZ. It encompasses a total square footage of 273,288 and comprises 301 units. The loan amount secured for this asset is $24,000,000, classified as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Loan Type: Bridge
- Lender: Asher Bittman
- Lender Agency: Sheridan Capital
Asher Bittman from Sheridan Capital facilitated the loan for this multifamily property transaction, representing the lender's interests throughout the closure of the deal. This strategic financing will support the operational needs of the property within the Phoenix market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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