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
Greenwood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
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