3650 REIT Secures $58M Loan For Refinancing Multifamily Property In Danbury, CT With HKS Real Estate Advisors
30 Crosby St Danbury, CT 06810, USA
$58,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 22, 2023
AI
3650 REIT has secured a $58 million loan to refinance Brookview Commons, a multifamily property located at 30 Crosby St in Danbury, Connecticut. The property consists of 264 units and is situated in the Danbury market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Address: 30 Crosby St
- Market: Danbury, CT
- Units: 264
The loan was provided by 3650 REIT, with Toby Cobb representing the lender. The refinancing arrangement was facilitated by John Harrington, a Partner at HKS Real Estate Advisors, acting as the broker in the deal.
Players
Danbury 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93