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Nihad Choudhury Secures $50M& CMBS Refinance Loan With Lender LMF Commercial

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FINANCED
$53,000,000

Maryland

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MultiFamily750,000 SF
Financed
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Property Image
FINANCED

Nihad Choudhury Secures $50M& CMBS Refinance Loan With Lender LMF Commercial

MultiFamily750,000 SF
Financed
Contact now

Summary

MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$70
Total Square Footage:750000 SF
Transaction Type:Loan

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:

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.

Players

Jake Gluck
40 deals$393.2M volume(973) 713-5331
BROKER

Details

FINANCED
IMAGE: Nihad Choudhury & Jake Gluck DATE: 03/06/2024 MARKET: Midwest ASSET TYPE: Multifamily ~ SF: 750,000 LENDER: LMF Commercial (@LMFCommercial) - Nihad Choudhury (@NihadChy) BROKER: Jake Gluck (@LuckyJack87) - Fortune Capital Group (@Fortune_Capital_Group) LOAN AMOUNT: $50,000,000+ LOAN TYPE: Refinance LOAN TERMS: CMBS: 5-year full IO, cash out

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$53,000,000.00

Monthly NOI$353,333.33
Monthly Debt Service$334,996.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00