Updated Mar 11, 2025
NewPoint Real Estate Capital Provides $27.5M Acquisition Loan For Hartford Multifamily Portfolio
$27,537,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 19, 2022
About this deal
AI
The acquisition of a multifamily portfolio in Hartford, CT has been facilitated by a loan provided by NewPoint Real Estate Capital. The portfolio consists of 459 multifamily units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,537,000
- Market: Hartford, CT
- Loan Type: Acquisition
- Loan Terms: 10-Year term with six years Interest-Only
- Lender: NewPoint Real Estate Capital
- Brokers: Israel Mermelstein, Zev Karpel & Jacob Schmuckler - Meridian Capital Group
The loan provided by NewPoint Real Estate Capital enables the acquisition of the multifamily portfolio. Israel Mermelstein, Zev Karpel, and Jacob Schmuckler from the Meridian Capital Group represented the buyer as brokers in the deal.
Players
Market 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93