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400 Blake Street

SRK Management Refinances Westville Village Apartments In Westville, CT With $53.25M Loan From Bethpage
FINANCEDMultiFamily

SRK Management Refinances Westville Village Apartments In Westville, CT With $53.25M Loan From Bethpage

400 Blake Street

$53,250,000

$179/SF

Building Size

296,768 SF

Asset Type

MultiFamily

Closing

Jul 26, 2022

AI

The Westville Village Apartments located at 400 Blake St. in Westville, CT have recently undergone a loan refinance transaction. The property, a multifamily building spanning approximately 296,768 square feet, has been involved in this deal.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $53,250,000
  • Loan Type: Refinance
  • Loan Terms: Balance Sheet Lender 5-Year Fixed Rate Deal 2-Years Interest Only Cash-out Refinance

The lender for this refinance was Bethpage, while SRK Management acted as the landlord. Marvin Jeremias from Crossmark Capital represented the parties as the broker.

Note: No additional information regarding the property or the individuals involved in the transaction was provided.

Players

Marvin Jeremias

Crossmark Capital

Broker

$983.6M

vol

12 deals

Broker
Bethpage
BethpageLender

Jackson 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

0.30%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93