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Arbor Realty Trust Provides $7.55M Loan For 84-Unit Multifamily Acquisition In La Plata

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FINANCED
$7,500,000

Maryland

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MultiFamily264,000 SF
Financed 08/15/2024
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FINANCED

Arbor Realty Trust Provides $7.55M Loan For 84-Unit Multifamily Acquisition In La Plata

610 Zekiah Run Road

See Similar Deals
MultiFamily264,000 SF
Financed 08/15/2024
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Summary

MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$28
Total Square Footage:264,000 SF
Transaction Type:Loan

The property asset involved in the transaction is located at 610 Zekiah Run Road in La Plata, MD. This multifamily asset has a total square footage of 264,000 and comprises 84 units. The loan associated with this property is for an acquisition, amounting to $7,549,000 with a fixed interest rate of 5.75% for a duration of 7 years, including 4 years of interest-only payments and no cash fee.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,549,000
  • Loan Type: Acquisition
  • Loan Terms: 5.75% Fixed for 7-Years, 4-Years I/O, No Cash Fee
  • Lender: Arbor Realty Trust
  • Broker: Brian Anderson & Eddie Miro - Progress Capital

Key individuals involved in this deal include Brian Anderson and Eddie Miro, who are the brokers representing the transaction. They are affiliated with Progress Capital, facilitating the acquisition loan provided by Arbor Realty Trust.

Players

Brian Anderson
40 deals$378.3M volume(732) 616-0908
BROKER

Eddie Miro
Cushman & Wakefield
36 deals$419.3M volume
BROKER

Arbor Realty Trust
LENDER

Details

FINANCED
IMAGE: Brian Anderson DATE: 08/15/2024 ADDRESS: 610 Zekiah Run Road MARKET: La Plata, MD ASSET TYPE: Multifamily ~ SF: 264,000 ~ UNITS: 84 LENDER: Arbor Realty Trust BROKER: Brian Anderson & Eddie Miro (@Eddie_Miro) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $7,549,000 LOAN TYPE: Acquisition LOAN TERMS: 5.75% Fixed for 7-Years, 4-Years I/O, No Cash Fee

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,500,000.00

Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00