Updated Nov 27, 2024
Berkadia Provides $49.4M Loan For Acquisition Of South Main Station Apartments In Longmont, CO
485 2nd Avenue Longmont, Colorado 80501, USA
$49,400,000
Units
252
Asset Type
MultiFamily
Closing
Jul 21, 2023
About this deal
AI
Berkadia has provided $49.4 million in Fannie Mae financing for the acquisition of South Main Station, a 252-unit apartment property located at 485 2nd Avenue in Longmont, Colorado. This multi-family asset is situated in the Longmont market and represents an important addition to the area's rental housing stock.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $49,400,000
- Units: 252
- Address: 485 2nd Avenue, Longmont, CO
Mass Equities, the landlord of South Main Station, successfully secured the $49.4 million loan through Berkadia's Fannie Mae financing. This acquisition loan allows Mass Equities to expand its portfolio and capitalize on the rental demand in the Longmont market. With this financial support, Mass Equities can continue its strategic growth and development plans for South Main Station.
Players
Toowoon Bay MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Berkadia to view all their deals.
Browse Toowoon Bay multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93