LMF Commercial Refinances Multifamily Property In Asylum Hill, Hartford For $9.45M

An undisclosed property in Asylum Hill, Hartford has undergone a refinancing transaction. The property is a multifamily asset spanning 13,824 square feet and consisting of 115 units. The deal, closed on November 21, 2023, involved an asset valued at $9,450,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $9,450,000
• Market: Asylum Hill, Hartford
• Square Footage: 13,824
• Units: 115

The lender responsible for the refinancing loan is LMF Commercial, represented by Nihad Choudhury. The loan terms are as follows: CMBS, 10-year full interest-only, 1.22x debt service coverage ratio (DSCR), 70% loan-to-value (LTV), and 92% loan-to-cost (LTC).

Nate Hyman from Polaris Funding acted as the broker in this transaction, assisting in the successful refinancing of the property.