Meridian Capital Group Arranges $25.5M Acquisition Loan For Multifamily Property In Colorado Springs
$25,461,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 18, 2022
AI
An acquisition loan in the amount of $25,461,000 has been secured for a multifamily property located in Colorado Springs, CO. The loan was facilitated by Seth Grossman and John Bianco of Meridian Capital Group, one of America's most active real estate finance and advisory firms.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,461,000
- Loan Type: Acquisition
- Loan Terms: SOFR + 230bps, 10-Year Term, 5 Years Interest Only
- Market: Colorado Springs, CO
Meridian Capital Group, known for its expertise in real estate financing and advisory services, has successfully closed over $55 billion in financing in 2021. The firm represents leading real estate investors and developers and deals with various property types, including multifamily, office, retail, hotel, mixed-use, industrial, and construction.
Players
Market 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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93