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2 Main Street

Mark McClure of GenX Capital Partners Brokered a $31 Million Refinance Loan From Tryperion Holdings For A Multifamily Asset in Biddeford.
FINANCEDMultiFamily

Mark McClure of GenX Capital Partners Brokered a $31 Million Refinance Loan From Tryperion Holdings For A Multifamily Asset in Biddeford.

2 Main Street

$31,000,000

$31/SF

Building Size

1,000,000 SF

Asset Type

MultiFamily

Closing

Dec 24, 2024

AI

The property asset involved in this transaction is a multifamily building located at 2 Main Street, Biddeford, ME, encompassing a total of 1,000,000 square feet with 153 units. The loan amount arranged for this asset is $31,000,000 as part of a refinancing deal.

Summary of transaction details:

This deal was facilitated by Mark McClure, representing GenX Capital Partners, who played a key role in the refinancing process, along with the involvement of Tryperion Holdings as the lender and Presidium Group as the landlord.

Players

Mark McClure

Minuteman Realty Group

Broker

$31M

vol

1 deal

Broker
Tryperion Holdings
Tryperion HoldingsLender

Biddeford MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93