Updated Jun 5, 2025
J.P. Morgan Chase Provides $75.6M Construction Loan For Multifamily Development On Butternut St NW In Washington, DC
1010 Butternut Street Northwest, Washington, District Of Columbia 20012, United States
$75,600,000
Units
344
Asset Type
MultiFamily
Closing
Jun 13, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 1010 Butternut St NW in Washington, DC. It consists of 344 units and spans across 66 acres.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $75,600,000
- Address: 1010 Butternut St NW, Washington, DC
- Market: Washington, DC
- Lender: J.P. Morgan Chase
- Landlord: Urban Atlantic and Triden Development Group
- Loan Type: Construction loan
J.P. Morgan Chase provided a construction loan of $75,600,000 for the acquisition of this multifamily property at 1010 Butternut St NW. Urban Atlantic and Triden Development Group acted as the landlords in this deal.
On the Map
$75,600,000
MultiFamily
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Players
Washington 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93