Eastern Mortgage Capital Refinances 144-Unit Multifamily Property In Champaign, Illinois With 35-Year Loan At 2.65%
FINANCED
$7,115,100
Illinois
See Similar DealsMultiFamily
Financed 03/17/2022
FINANCED
Eastern Mortgage Capital Refinances 144-Unit Multifamily Property In Champaign, Illinois With 35-Year Loan At 2.65%
2413 North Neil Street, Champaign, Illinois 61820, United States
See Similar DealsMultiFamily
Financed 03/17/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 2413 North Neil St in Champaign, Illinois has undergone a refinancing transaction. This 144-unit property was refinanced through a loan provided by Eastern Mortgage Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,115,100
- Address: 2413 North Neil St, Champaign, Illinois
- Market: Champaign, Illinois
- Loan Type: Refinance
- Loan Terms: The property was refinanced with a 35-year loan at a fixed interest rate of 2.65%.
- Agents: Raymond Zanca & Matt Stearns (lackBearCapitalPartners)
The loan obtained for this transaction has allowed for the refinancing of the multifamily property at 2413 North Neil St. With a fixed interest rate of 2.65% over a 35-year loan term, this refinancing provides long-term stability for the property owner. Raymond Zanca and Matt Stearns from lackBearCapitalPartners represented the parties involved in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,115,100.00
Monthly NOI$47,434.00
Monthly Debt Service$44,972.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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