Flaherty & Collins Refinances 192-Unit Multifamily Property In Covington, KY For $53M With Natixis Loan
FINANCED
$53,000,000
Kentucky
See Similar DealsMultiFamily2,073 SF
Financed 10/25/2021
FINANCED
Flaherty & Collins Refinances 192-Unit Multifamily Property In Covington, KY For $53M With Natixis Loan
515 Main Street, Covington, KY, USA
See Similar DealsMultiFamily2,073 SF
Financed 10/25/2021
Summary
KENTUCKY
Asset Type:MultiFamily
Price Per Square Foot:$25,566
Total Square Footage:2,073 SF
Transaction Type:Loan
The multifamily property located at 515 Main St in Covington, KY has been involved in a recent loan transaction. The property consists of 192 units, making it a substantial asset in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Date: 10/25/2021
- Lender: natixis''>Natixis
- Landlord: Flaherty & Collins
- Brokers: Daniel Geuther & Michael Slovitt - Berkadia
During the loan transaction, Natixis provided a $53,000,000 refinancing loan. The loan term is set at five years with a floating interest rate.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,000,000.00
Monthly NOI$353,333.33
Monthly Debt Service$334,996.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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