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Enterprise Community Development Secures $105 Million Loan For Multifamily Property In Columbia, MD

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FINANCED
$105,000,000

Maryland

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MultiFamily
Financed 09/08/2022
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FINANCED

Enterprise Community Development Secures $105 Million Loan For Multifamily Property In Columbia, MD

10339 Twin Rivers Road, Columbia, Maryland 21044, United States

See Similar Deals
MultiFamily
Financed 09/08/2022
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Loan

An multifamily property located at 10339 Twin Rivers Road in Columbia, MD has been involved in a recent loan transaction. The property consists of 153 units and has been acquired by Enterprise Community Development, the landlord, for a loan amount of $105,000,000. The loan was provided by Bank of America, Maryland Community Development Administration, Bellwether Enterprise, and Community Homes.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $105,000,000
  • Address: 10339 Twin Rivers Road
  • Market: Columbia, MD
  • Units: 153
  • Lender: Bank of America, Maryland Community Development Administration, Bellwether Enterprise, and Community Homes
  • Landlord: Enterprise Community Development

In addition to the loan details, the key individuals and companies involved in this deal include Enterprise Community Development as the landlord. The loan was secured through the collaboration of Bank of America, Maryland Community Development Administration, Bellwether Enterprise, and Community Homes.

Players

LENDER



Details

FINANCED
IMAGE: 09/08/2022 ADDRESS: 10339 Twin Rivers Road MARKET: Columbia, MD ASSET TYPE: Multifamily ~ UNITS: 153 LENDER: Bank of America, Maryland Community Development Administration, Bellwether Enterprise & Community Homes LANDLORD: Enterprise Community Development LOAN AMOUNT: $105,000,000  

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$105,000,000.00

Monthly NOI$700,000.00
Monthly Debt Service$663,671.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00