PGIM Provides $4.34M Acquisition Loan For 15-Unit Multifamily Property In Westport, CT

Located at 201 Main Street in Westport, CT, this multifamily property is a 15-unit building with a total square footage of 12,300. The property also includes a ground-floor commercial unit, adding to its investment potential.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,340,000
• Address: 201 Main Street, Westport, CT
• Market: Westport, CT
• Loan: Acquisition
• Loan Amount: $4,340,000
• Lender: PGIM
• Loan Terms: 10-year fixed rate non-recourse loan at 4.80% with full term interest only
• Broker: Brandon Harris - BlackBear Capital Partners

The acquisition of this property was made possible through a loan provided by PGIM. The loan amount of $4,340,000 was obtained for the purposes of acquiring the 15-unit multifamily property, which also features a ground-floor commercial unit. The loan terms include a 10-year fixed rate non-recourse loan at an interest rate of 4.80% with full term interest only. The financing was facilitated by Brandon Harris, a representative from BlackBear Capital Partners, who worked on behalf of the buyer to secure the loan and complete the transaction.