Updated Oct 28, 2024
Ready Capital-David A. Cohen Obtains $12M Loan For 72-Unit Multifamily In Arlington Heights
3400 N Old Arlington Heights Rd, Arlington Heights, IL, USA
$12,000,000
Units
72
Asset Type
MultiFamily
Closing
Nov 15, 2021
About this deal
AI
The multifamily property located at 3400 N Old Arlington Heights Rd in Arlington Heights has recently undergone a transaction. The property consists of 72 units and was acquired through a loan for a total amount of $12,000,000. The loan was obtained for the purpose of acquisition and deconversion.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 3400 N Old Arlington Heights Rd
- Market: Arlington Heights
- Units: 72
The landlord for this property is Ready Capital-David A. Cohen. David A. Cohen was involved in the transaction as a representative of Ready Capital.
Players
Arlington Heights 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93