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Nathan Paine Secures $7.85M Loan For Winchester Woods Multifamily In Portland, ME

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FINANCED
$7,850,000

Maine

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MultiFamily50,000 SF
Financed 01/23/2025
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Property Image
FINANCED

Nathan Paine Secures $7.85M Loan For Winchester Woods Multifamily In Portland, ME

17 Winchester Dr

See Similar Deals
MultiFamily50,000 SF
Financed 01/23/2025
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Summary

MAINE
Asset Type:MultiFamily
Price Per Square Foot:$157
Total Square Footage:50,000 SF
Transaction Type:Loan

The property asset involved in the transaction is a multifamily unit located at 17 Winchester Drive, Portland, ME. The asset encompasses a total square footage of 50,000 with 48 units. The loan amount for the acquisition stands at $7,850,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,850,000
  • Lender: Jared Sobel & Michael Ianno – Walker & Dunlop
  • Landlord: Nathan Paine
  • Broker: John Finegan - The Boulous Company

This deal features key individuals including Jared Sobel and Michael Ianno, who acted as lenders from Walker & Dunlop, facilitating the loan for the acquisition. The broker John Finegan from The Boulous Companyrepresented the interests of Nathan Paine, the landlord involved in the transaction.

Players

John Finegan
2 deals$7.9M volume(207) 553-1718
BROKER

Walker & Dunlop
LENDER

Details

FINANCED
IMAGE: Michael Ianno, John Finegan & Jared Sobel DATE: 01/23/2025 ADDRESS: Winchester Woods - 17 Winchester Drive MARKET: Portland, ME ASSET TYPE: Multifamily ~ SF: 50,000 ~ UNITS: 48 LENDER: Jared Sobel (@jmsobel) & Michael Ianno (@mianno20) – Walker & Dunlop LANDLORD: Nathan Paine BROKER: John Finegan (@JohnFinegram) - The Boulous Company (@TheBoulosCo) LOAN AMOUNT: $7,850,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,850,000.00

Monthly NOI$52,333.33
Monthly Debt Service$49,617.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00