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1630 Saddle

Zidan Management Group Secures $184M Refinance Loan For Multifamily Properties In Greenwood, Lowell, Fairfield, Springboro, And Louisville
FINANCEDMultiFamily

Zidan Management Group Secures $184M Refinance Loan For Multifamily Properties In Greenwood, Lowell, Fairfield, Springboro, And Louisville

1630 Saddle, 700 Bexley Place, 510 Creekside Drive, 1400 Sherwood Drive, 15 Woodhill Drive, 2207 James Pirtle Court & 7500 Beechview Way

$184,000,000

Building Size

Asset Type

MultiFamily

Closing

Nov 8, 2023

AI

The asset involved in this transaction is a multifamily portfolio consisting of multiple addresses across Greenwood and Lowell, IN; Fairfield and Springboro, OH; and Louisville, KY. The total loan amount secured for this refinance transaction is $184,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $184,000,000
  • Lender: Michael Dury - Merchants Capital
  • Landlord: Raed Zidan - Zidan Management Group
  • Addresses: 1630 Saddle, 700 Bexley Place, 510 Creekside Drive, 1400 Sherwood Drive, 15 Woodhill Drive, 2207 James Pirtle Court, and 7500 Beechview Way
  • Markets: Greenwood & Lowell, IN; Fairfield & Springboro, OH; & Louisville, KY
  • Loan Type: Refinance

Key individuals in this transaction include Michael Dury, representing Merchants Capital as the lender, and Raed Zidan, who manages the properties through Zidan Management Group. Their roles are integral in facilitating the refinancing of the multifamily portfolio.

Players

Merchants Capital
Merchants CapitalLender

Raed Zidan

Landlord

$195.9M

vol

2 deals

Landlord

Greenwood 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

0.09%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93