Eastern Mortgage Capital Provides $38 Million Permanent Financing For Multifamily Property In Groton, CT
FINANCED
$38,000,000
Connecticut
See Similar DealsMultiFamily
Financed 07/08/2022
FINANCED
Eastern Mortgage Capital Provides $38 Million Permanent Financing For Multifamily Property In Groton, CT
600 Meridian Street Extension, Groton, Connecticut 06340, United States
See Similar DealsMultiFamily
Financed 07/08/2022
Summary
CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 600 Meridian St Ext in Groton, CT has recently undergone a closed transaction. Situated on a vast land area measuring approximately 30 acres, this property comprises a total of 324 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,000,000
- Address: 600 Meridian St Ext, Groton, CT
- Market: Groton, CT
- Units: 324
- Acres: 30
The lender responsible for financing this transaction is Eastern Mortgage Capital. Tim O'Donnell, representing Fantini & Gorga, assisted in brokering the deal.
This permanent financing loan of $38,000,000 has enabled the successful completion of the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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