Updated Sep 9, 2024
Eastern Bank Provides $28.4M Permanent Financing For Mitchellville Multifamily Property
11411 Lake Arbor Way
$28,370,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 9, 2023
About this deal
AI
A multifamily property located at 11411 Lake Arbor Way in Mitchellville, MD has received permanent financing from Eastern Bank in the amount of $28,370,000. The property is owned by Mitchellville, MD and the transaction was facilitated by brokers Jamie Leachman, Jacqueline Meagher, Madeline Joyce, and David Sloan from JLL.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,370,000
- Lender: Eastern Bank
- Landlord: Mitchellville, MD
- Brokers: Jamie Leachman, Jacqueline Meagher, Madeline Joyce, and David Sloan - JLL
The loan provided by Eastern Bank will enable the successful completion of the acquisition or refinancing of the multifamily property located at 11411 Lake Arbor Way in Mitchellville, MD. The involvement of brokers Jamie Leachman, Jacqueline Meagher, Madeline Joyce, and David Sloan from JLL highlights their expertise in facilitating such transactions.
On the Map
$28,370,000
MultiFamily
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Players
Bowie 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93