Webster Bank Provides $51.5M Refinance Loan For MultiFamily Property On Willard Road In Norwalk, CT With Brokers From Meridian Capital Group
10 Willard Rd Norwalk, CT 06851, USA
$51,450,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 7, 2023
AI
A multifamily property located at 10 Willard Road in Norwalk, CT has recently undergone a refinancing transaction. The property, consisting of multiple residential units, was involved in a loan deal facilitated by Webster Bank. The loan amount for this refinancing transaction was $51,450,000.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $51,450,000
- Lender: Webster Bank
Daniel Cohen and Tal Savariego from Meridian Capital Group acted as the brokers in this transaction. Their expertise and representation played a crucial role in facilitating the refinancing of the multifamily property. Through their involvement and negotiation skills, they were able to secure the loan from Webster Bank, allowing the property owner to optimize their financial situation.
Players
Norwalk 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93