Updated Dec 4, 2024
Nihad Choudhury Secures $50M& CMBS Refinance Loan With Lender LMF Commercial
$53,000,000
$70/SF
Building Size
750,000 SF
Asset Type
MultiFamily
Closing
Mar 6, 2024
About this deal
AI
The multifamily property spanning 750,000 square feet located in the Midwest underwent a loan transaction for a refinancing deal. LMF Commercial, with Nihad Choudhury as the lending representative, provided a loan exceeding $50,000,000 with CMBS terms consisting of a 5-year full interest-only period and allowing for cash out.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000+
- Lender: LMF Commercial - Nihad Choudhury
- Broker: Jake Gluck - Fortune Capital Group
- Loan Type: Refinance
- Loan Terms: CMBS: 5-year full IO, cash out
Nihad Choudhury represented LMF Commercial in the lending process, facilitating the loan amount that exceeded $50,000,000. On the brokerage side, Jake Gluck from Fortune Capital Group played a pivotal role in negotiating the deal and ensuring a successful refinance with favorable terms for the multifamily property in the Midwest.
Market 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93