Updated Oct 28, 2024
Progress Capital Secures $5M Acquisition Loan For Multifamily Property In Halethorpe, MD
1138 Circle Drive
$5,000,000
$76/SF
Building Size
65,000 SF
Asset Type
MultiFamily
Closing
Oct 25, 2022
About this deal
AI
The multifamily property located at 1138 Circle Drive in Halethorpe, MD has been involved in a recent loan transaction. The property spans approximately 65,000 square feet and consists of 60 units. The loan was provided by Virginia's Partners Bank for an acquisition.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 1138 Circle Drive, Halethorpe, MD
- Market: Halethorpe, MD
- Loan Type: Acquisition
Brian Anderson and Eddie Miro from Progress Capital served as the brokers in this transaction, representing the buyer or borrower in securing the loan from Virginia's Partners Bank.
Players
Halethorpe 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93