Sheridan Capital Provides $38.4M Bridge Loan For Multifamily Property In Riverdale, GA
FINANCED
$38,400,000
Georgia
See Similar DealsMultiFamily
Financed 03/01/2022
FINANCED
Sheridan Capital Provides $38.4M Bridge Loan For Multifamily Property In Riverdale, GA
5758 Highway 85, Riverdale, GA 30274
See Similar DealsMultiFamily
Financed 03/01/2022
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 5758 Highway 85, Riverdale, GA, featuring a total of 387 units. The property was financed through a bridge loan totaling $38,400,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $38,400,000
- Lender: Sheridan Capital
- Loan Type: Bridge Loan
- Deal Date: 03/01/2022
- Brokers: Michael Yassky; Joe Hercenberg - Walker and Dunlop
- Lender Representatives: Michael Yassky, Lee Shwartz & Aaron Kurlansky
Key individuals involved in the transaction include brokers Michael Yassky and Joe Hercenberg, who represented the deal. The lenders, Michael Yassky, Lee Shwartz, and Aaron Kurlansky from Sheridan Capital, facilitated the financing for this multifamily property transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,400,000.00
Monthly NOI$256,000.00
Monthly Debt Service$242,714.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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