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10 Willard Rd Norwalk, CT 0...

Webster Bank Provides $51.5M Refinance Loan For MultiFamily Property On Willard Road In Norwalk, CT With Brokers From Meridian Capital Group
FINANCEDMultiFamily

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

Tal Savariego

Iron Hound Management Company

Broker

$532.7M

vol

14 deals

Broker
Webster Bank
Webster BankLender

Norwalk MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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