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Melvin Park Owner LP Recapitalizes Catonsville Multifamily With $32M Freddie Mac Loan

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FINANCED
$32,180,000
Abigail Beauchamp
Mitch Sinberg
Matthew (Matt) Robbins

Maryland

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MultiFamily
Financed 09/20/2022
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Property Image
FINANCED

Melvin Park Owner LP Recapitalizes Catonsville Multifamily With $32M Freddie Mac Loan

351 Suter Road, Catonsville, Maryland 21228, United States

See Similar Deals
MultiFamily
Financed 09/20/2022
Abigail Beauchamp
Mitch Sinberg
Matthew (Matt) Robbins
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 351 Suter Road in Catonsville, MD has undergone a recent loan transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $32,000,000
  • Units: 263
  • Market: Catonsville, MD

The loan was obtained by the landlord, Melvin Park Owner LP, for the purpose of recapitalization. The loan amount is $32,000,000 and is a 10-year Freddie Mac loan with seven years of interest only. The brokers involved in this transaction were Matt Robbins, Mitch Sinberg, and Abigail Beauchamp from berkadia''>berkadia'>Berkadia.

Players

Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Abigail Beauchamp
Berkadia
Abigail Beauchamp
15 deals$589.5M volume
BROKER
Berkadia
Berkadia
LENDER

Details

FINANCED
IMAGE: Matt Robbins, Mitch Sinberg & Abigail Beauchamp DATE: 09/21/2022 ADDRESS: 351 Suter Road MARKET: Catonsville, MD ASSET TYPE: Multifamily ~ UNITS: 263 LANDLORD: Melvin Park Owner LP BROKERS: Matt Robbins, Mitch Sinberg & Abigail Beauchamp - Berkadia LOAN AMOUNT: $32,000,000 LOAN TYPE: Recapitalization LOAN TERMS: 10-year Freddie Mac loan with seven years of interest only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,180,000.00

Monthly NOI$214,533.33
Monthly Debt Service$203,399.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00