Updated Dec 21, 2023
Progress.Capital Arranges $50.9M Fannie Floater Loan For Multifamily Property In Middle River, MD
37 Alberge Lane, Middle River, MD, USA
$50,985,000
$46,476/SF
Building Size
1,097 SF
Asset Type
MultiFamily
Closing
Jun 1, 2020
About this deal
AI
Progress.Capital, represented by Brad Domenico, recently closed a loan transaction in Middle River, MD. The property, located at 37 Alberge Lane, is a multifamily asset. The loan amount for this transaction was $50,985,000, with loan terms of a 10-year Fannie Floater at a sub 2.85% interest rate with interest only.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,985,000
- Market: Middle River, MD
- Broker: Brad Domenico - Progress.Capital
- Loan Terms: 10-year Fannie Floater with interest only, sub 2.85% interest rate
This successful loan transaction was made possible thanks to the excellent execution by Eric Regenbogen, as noted by @Progress.Capital.
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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93