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Onyx Partners Acquires 336-Unit Multifamily Property In Metairie For $55.8M

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FINANCED
$55,800,000
Judah Rosenberg
Christian Schedler
+ 2

Louisiana

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MultiFamily
Financed 07/19/2022
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FINANCED

Onyx Partners Acquires 336-Unit Multifamily Property In Metairie For $55.8M

3301 West Esplanade Avenue North, Metairie, Louisiana 70002, United States

See Similar Deals
MultiFamily
Financed 07/19/2022
Judah Rosenberg
Christian Schedler
+ 2
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Summary

LOUISIANA
Asset Type:MultiFamily
Transaction Type:Loan

On July 19, 2022, a closed property transaction took place at 3301 West Esplanade Avenue North in Metairie. The property is a 7.34-acre multifamily asset comprising a total of 336 units. The transaction involved the acquisition of the property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $55,800,000
  • Address: 3301 West Esplanade Avenue North
  • Market: Metairie
  • Asset Size: 7.34 acres
  • Number of Units: 336

The landlord in this transaction was Onyx Partners. The brokers involved in the deal were Mike Kemether, Christian Schedler, Larry Schedler, and Cheryl Short from Cushman & Wakefield, as well as Judah Rosenberg from greystone''>greystone'>Greystone.

These key individuals and companies played a crucial role in facilitating the acquisition of the multifamily property at 3301 West Esplanade Avenue North in Metairie.

Players

Mike Kemether
3 deals$159.6M volume
BROKER

Christian Schedler
Cushman & Wakefield
1 deal$55.8M volume
BROKER

Larry Schedler
Cushman & Wakefield
1 deal$55.8M volume
BROKER

Cheryl Short
Cushman & Wakefield
1 deal$55.8M volume
BROKER

Judah Rosenberg
Greystone
2 deals$141.3M volume
BROKER

Greystone
BROKERAGE

Greystone
LENDER

Details

FINANCED
IMAGE: Judah Rosenberg DATE: 07/19/2022 ADDRESS: 3301 West Esplanade Avenue North MARKET: Metairie ASSET TYPE: Multifamily ~ ACRES: 7.34 ~ UNITS: 336 LANDLORD: Onyx Partners BROKERS: Mike Kemether, Christian Schedler, Larry Schedler & Cheryl Short - Cushman & Wakefield; Judah Rosenberg - Greystone LOAN AMOUNT: $55,800,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$55,800,000.00

Monthly NOI$372,000.00
Monthly Debt Service$352,693.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00