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6000 Merriweather Drive

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

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.

Players

Howard Hughes

Howard Hughes Corporation

Landlord

$234M

vol

6 deals

Landlord

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