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Howard Hughes Corp Secures $117M Loan For 382-Unit Multifamily In Columbia, MD

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FINANCED
$117,000,000

Maryland

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MultiFamily55,693 SF
Financed 01/13/2023
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FINANCED

Howard Hughes Corp Secures $117M Loan For 382-Unit Multifamily In Columbia, MD

6000 Merriweather Drive

See Similar Deals
MultiFamily55,693 SF
Financed 01/13/2023
Contact now

Summary

MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$2,100
Total Square Footage:55,693 SF
Transaction Type:Loan

The multifamily property located at 6000 Merriweather Drive in Columbia, MD has recently undergone a closed transaction. The property consists of 382 units and spans across 55,693 square feet. The transaction involved a loan with a total amount of $117,000,000. The landlord of the property is Howard Hughes Corp.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $117,000,000
  • Address: 6000 Merriweather Drive, Columbia, MD
  • Market: Columbia, MD
  • Units: 382
  • Square Footage: 55,693
  • Landlord: Howard Hughes Corp
  • Brokers: JLL

The brokers involved in the transaction were JLL. They played a crucial role in facilitating the deal between the parties. Their expertise and professionalism ensured a successful transaction for all parties involved.

Details

FINANCED
IMAGE: 01/13/2023 ADDRESS: 6000 Merriweather Drive MARKET: Columbia, MD ASSET TYPE: Multifamily ~ UNITS: 382 ~ SF: 55,693 LANDLORD: Howard Hughes Corp BROKERS: JLL LOAN AMOUNT: $117,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$117,000,000.00

Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00