NewPoint Real Estate Capital Provides $27.5M Acquisition Loan For Hartford Multifamily Portfolio
FINANCED
$27,537,000
Connecticut
See Similar DealsMultiFamily
Financed 07/19/2022
FINANCED
NewPoint Real Estate Capital Provides $27.5M Acquisition Loan For Hartford Multifamily Portfolio
MultiFamily
Financed 07/19/2022
Summary
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,537,000.00
Monthly NOI$183,580.00
Monthly Debt Service$174,052.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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