Updated Feb 16, 2024
Greystone And Eastern Union Funding Provide $20M Refinance Loan For Multifamily Property In Lanham, MD
5602 Whitfield Chapel Road, Lanham, Maryland 20706, United States
$20,000,000
Units
322
Asset Type
MultiFamily
Closing
Jun 9, 2022
About this deal
AI
The multifamily property located at 5602 Whitfield Chapel Rd in Lanham, MD has undergone a refinancing transaction. The property consists of 322 units and is situated in the Lanham market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 5602 Whitfield Chapel Rd, Lanham, MD
- Market: Lanham, MD
- Units: 322
The loan for this transaction was provided by two lenders. greystone''>Greystone, represented by Cullen O’Grady, and Eastern Union Funding, represented by Marc Tropp. The loan amount for the refinancing was $20,000,000.
Players
Lanham 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93