Updated Oct 28, 2024
Greystone Provides $25.3M Refinance Loan For Covington Multifamily Property
10100 Brown Bridge Road, Covington, Georgia 30014, United States
$25,300,000
Units
232
Asset Type
MultiFamily
Closing
Sep 27, 2022
About this deal
AI
The multifamily property located at 10100 Brown Bridge Rd in Covington, GA has undergone a loan refinancing transaction. The property consists of 232 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,300,000
- Loan Type: Refinance
- Loan Terms: 10-year term, 30-year amortization, and 10 years of interest-only payments
The lender responsible for this refinancing deal is greystone''>Greystone - Keith Hires & Carter King.
By refinancing the property, the owners have secured a loan amount of $25,300,000 with favorable terms. The loan has a 10-year term and a 30-year amortization schedule, including 10 years of interest-only payments. This refinancing transaction provides the owners with the opportunity to manage their financial obligations effectively.
Covington 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93