Updated Dec 14, 2024
Capital One Provides $29.5M Loan For Multifamily Property In Annapolis, MD
1 Bens Drive, Annapolis, Maryland 21403, United States
$29,500,000
Units
198
Asset Type
MultiFamily
Closing
Mar 23, 2022
About this deal
AI
Located at 1 Bens Dr in Annapolis, MD, this multifamily property comprises of 198 units. The transaction took place on 03/24/2022, and a loan was secured for this property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,500,000
- Loan Terms: The seven-year loan will be amortized on a 30-year schedule with prepayment flexibility starting in its fifth year
Capital One, represented by Evan Williams, provided the loan for this transaction. The loan amount of $29,500,000 will contribute to the financing of this multifamily property in Annapolis, MD.
Players
Annapolis 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93