The Dolben Company Secures $28.4M Loan For 209-Unit Multifamily In Mitchellville, MD
FINANCED
$28,400,000
+ 1
Maryland
See Similar DealsMultiFamily
Financed 01/16/2023
FINANCED
The Dolben Company Secures $28.4M Loan For 209-Unit Multifamily In Mitchellville, MD
11411 Lake Arbor Way
See Similar DealsMultiFamily
Financed 01/16/2023
+ 1
Summary
MARYLAND
Asset Type:MultiFamily
Transaction Type:Loan
The Dolben Company, a landlord based in Mitchellville, MD, has secured a $28,400,000 loan from Eastern Bank for a multifamily property located at 11411 Lake Arbor Way. This property consists of 209 units and is situated in the Mitchellville market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,400,000
- Address: 11411 Lake Arbor Way
- Market: Mitchellville, MD
- Units: 209
- Lender: Eastern Bank
- Landlord: The Dolben Company
- Brokers: Jamie Leachman, Jacqueline Meagher, Madeline Joyce, and David Sloan - JLL
Jamie Leachman, Jacqueline Meagher, Madeline Joyce, and David Sloan from JLL successfully represented The Dolben Company in securing the loan. The involvement of these brokers played a crucial role in the negotiation process.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,400,000.00
Monthly NOI$189,333.33
Monthly Debt Service$179,507.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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