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:
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Lender: Morgan Stanley
- Brokers: Aaron Rosenfeld, Shaya Sonnenschein & Mark Steele - AANDAR Real Estate Capital
- Loan Type: Refinance
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
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