Cross Mountain Capital Refinances Multifamily Property In Edgewater, CO For $8.1M
2640 Ingalls Street
$8,099,000
Units
54
Asset Type
MultiFamily
Closing
Jan 18, 2023
AI
The property involved in this transaction is a multifamily asset located at 2640 Ingalls Street in Edgewater, CO. The loan amount for this transaction is $8,099,000, and it is a refinance loan with 35-year amortization terms.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,099,000
- Lender: Lument - Tim Smits
- Landlord: Cross Mountain Capital - Michael Gilman
- Brokers: Jeff Santoro & Chris Mullaly - Spirus Capital Partners
The lender for this transaction is Lument, represented by Tim Smits. The landlord is Cross Mountain Capital, represented by Michael Gilman. The brokers involved in this deal are Jeff Santoro and Chris Mullaly from Spirus Capital Partners.
Players
Edgewater 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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93