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
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