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.
On the Map
$8,280,000
MultiFamily
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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