Updated Feb 4, 2025
Nathan Paine Secures $7.85M Loan For Winchester Woods Multifamily In Portland, ME
17 Winchester Dr
$7,850,000
$157/SF
Building Size
50,000 SF
Asset Type
MultiFamily
Closing
Jan 23, 2025
About this deal
AI
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.
On the Map
$7,850,000
$157/SF
MultiFamily
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Players
Portland 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
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93