Meridian Capital Group Arranges $7.5M Loan For Multifamily Property On Warren Drive In Little Rock
Warren Drive
$7,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 1, 2022
AI
A multifamily property located on Warren Drive in Little Rock, AR has recently closed in a transaction. The property, represented by Abe Klein, Morris Diamant, and Akiva Rosenberg of Meridian Capital Group, was sold for an undisclosed amount.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Location: Warren Drive, Little Rock, AR
- Market: Little Rock, AR
- Brokers: Abe Klein, Morris Diamant, and Akiva Rosenberg - Meridian Capital Group
The deal involved a purchase loan of $7,500,000. This loan, provided by an undisclosed lender, includes the following terms: 80% loan-to-cost (LTC), a 2-year fixed rate term, and an open prepayment option.
Players
Little Rock 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93