Updated Dec 21, 2023
Progress Capital Arranges $25.1M Loan For Multifamily Property In Middle River, MD
Holly Drive, Middle River, MD, USA
$25,106,000
$29,606/SF
Building Size
848 SF
Asset Type
MultiFamily
Closing
May 20, 2020
About this deal
AI
A $25,106,000 loan was secured for the acquisition of a multifamily property located at 303 Holly Drive in Middle River, MD. The loan was obtained on May 20, 2021, with a term of 10 years. It is a Fannie Floater loan with interest-only payments and a sub 2.85% interest rate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,106,000
- Market: Middle River, MD
- Broker: Brad Domenico - Progress Capital
Brad Domenico, representing Progress Capital, played a key role in facilitating the successful execution of this loan. The deal was made possible thanks to the expertise provided by Eric Regenbogen.
Middle River 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93