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
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.
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