Colliers Arranges $24.5 Million Refinance For 199-Unit Multifamily In Pikesville Maryland
19 Warren Park Drive
$24,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 18, 2024
AI
A multifamily asset located at 19 Warren Park Drive in Pikesville, MD consists of 199 units. The property was refinanced for an amount of $24,500,000, reflecting its value in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,500,000
- Landlord: Yonatan Gelfand - Gelfund RE Opportunities & GY Properties
- Broker: Bob Beckman - Colliers
- Loan Type: Refinance
- Loan Date: 10/18/2024
Colliers facilitated the refinancing for Gelfund RE Opportunities and GY Properties for the Milford Station complex, ensuring the financial structure was optimal for the landlord's ongoing investment strategy.
Players
Pikesville 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93