Kriss Capital Provides $31.8M Construction Loan For Multifamily Property In Farmington, CT
FINANCED
$31,800,000
Connecticut
See Similar DealsMultiFamily148,000 SF
Financed 10/04/2021
FINANCED
Kriss Capital Provides $31.8M Construction Loan For Multifamily Property In Farmington, CT
15 Farm Springs Road, Farmington, CT, USA
See Similar DealsMultiFamily148,000 SF
Financed 10/04/2021
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$214
Total Square Footage:148,000 SF
Transaction Type:Loan
Located in Farmington, CT, the property at 15 Farm Springs Road recently underwent a closed transaction. This multifamily asset spans approximately 148,000 square feet and consists of 225 units, making it a significant investment in the area. The deal was facilitated by the brokers Thomas Wayda and Ronnie Levine from Meridian Capital.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $31,800,000
- Lender: Kriss Capital
- Landlord: CSRE Group
- Brokers: Thomas Wayda & Ronnie Levine - Meridian Capital
- Loan Type: Construction Loan
The lenders involved in this transaction were Kriss Capital, providing a construction loan to support the property's development. The landlord, CSRE Group, facilitated the deal, showcasing their expertise in the real estate market. The involvement of brokers Thomas Wayda and Ronnie Levine from Meridian Capital added an additional layer of professionalism and expertise to this closed transaction.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,800,000.00
Monthly NOI$212,000.00
Monthly Debt Service$200,997.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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