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3001 E Jefferson Blvd

Morgan Stanley Provides $65 Million Refinance Loan For 718 Unit Multifamily Property In South Bend
FINANCEDMultiFamily

Morgan Stanley Provides $65 Million Refinance Loan For 718 Unit Multifamily Property In South Bend

$65,000,000

$104/SF

Building Size

622,726 SF

Asset Type

MultiFamily

Closing

Feb 20, 2025

AI

The transaction involves a multifamily asset with a total of 718 units located in the South Bend market. The loan amount associated with this property transaction is $65,000,000, which is a refinance loan provided by Morgan Stanley.

Summary of transaction details:

The deal is represented by brokers Aaron Rosenfeld, Shaya Sonnenschein, and Mark Steele, who are associated with AANDAR Real Estate Capital. Their role involves facilitating the transaction and ensuring a smooth loan process for the clients involved.

Players

Aaron Rosenfeld

AANDAR Real Estate Capital

Broker

$95.7M

vol

4 deals

Broker
Morgan Stanley
Morgan Stanley Lender

South Bend 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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93