Howard Hughes Corp Secures $117M Loan For 382-Unit Multifamily In Columbia, MD
6000 Merriweather Drive
$117,000,000
$2,100/SF
Building Size
55,693 SF
Asset Type
MultiFamily
Closing
Jan 13, 2023
AI
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.
Columbia 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93