Updated Dec 4, 2024
Zalmi Klyne Of NorthMarq Closes $8.28M Refinance For 47-Unit Multifamily In Lancaster
43253 20th Street West
$8,280,000
Units
47
Asset Type
MultiFamily
Closing
Jul 12, 2024
About this deal
AI
The asset involved in this transaction is a 47-unit multifamily apartment complex located at 43253 20th Street in the Lancaster market. The transaction was executed as a refinance, with a total loan amount of $8,280,000. The financial structure of the loan includes a 5-year term and is amortized over 30 years, featuring an interest-only period of 3 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,280,000
- Loan Type: Refinance
- Loan Terms: 5-year, 30-year amortized loan with a 3-year interest-only period
- Broker: Zalmi Klyne
- Agency: NorthMarq
- Date: 07/12/2024
- Address: 43253 20th Street
- Market: Lancaster
- Units: 47
In this transaction, Zalmi Klyne of NorthMarq acted as the broker, facilitating the $8.28 million Fannie Mae refinance for the multifamily apartment complex. This refinance underscores the dedication to providing financial solutions tailored to the needs of multifamily properties in Lancaster.
Players
Lancaster 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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93