Dean Ofer Of Harborview Capital Partners Facilitates $20.3M Acquisition Loan For 303-Unit Multifamily In Baltimore
222 Saint Paul Place
$20,300,000
$122/SF
Building Size
165,185 SF
Asset Type
MultiFamily
Closing
Oct 23, 2024
AI
The property asset involved is a 303-unit hotel-multifamily conversion located at 222 Saint Paul Place, Baltimore, MD. The multifamily asset spans a total square footage of 165,185. The total loan amount for this acquisition was $20,300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,300,000
- Address: 222 Saint Paul Place
- Market: Baltimore, MD
- Asset Square Footage: 165,185
- Units: 303
- Loan Type: Acquisition
- Broker: Dean Ofer - Harborview Capital Partners
Dean Ofer represented the transaction, providing private credit acquisition and construction financing execution on the project. The final loan terms exceeded 70% loan-to-cost with an all-in rate floor below 10%. For further inquiries, Dean Ofer can be reached at 646-733-8520 or via email at [email protected].
Baltimore MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93