Samuel Kwadrat Of Rhine Legacy Capital Closes $10.53 Million Bridge Loan For Multifamily In Baltimore
FINANCED
$10,534,000
Maryland
See Similar DealsMultiFamily132,000 SF
Financed 12/24/2024
FINANCED
Samuel Kwadrat Of Rhine Legacy Capital Closes $10.53 Million Bridge Loan For Multifamily In Baltimore
MultiFamily132,000 SF
Financed 12/24/2024
Summary
MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$79
Total Square Footage:132,000 SF
Transaction Type:Loan
The asset involved in the transaction is a multifamily property located in Baltimore, MD, featuring 139 units and encompassing a total of 132,000 square feet. The loan amount secured for this property is $10,534,000 with a bridge loan type. The lender is Rhine Legacy Capital, which operates as a balance sheet lender. The loan terms reflect a loan-to-cost ratio of 70%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,534,000
- Units: 139
- Square Footage: 132,000
- Lender: Samuel Kwadrat - Rhine Legacy Capital
- Loan Type: Bridge
- Loan Terms: 70% LTC
The transaction was facilitated by Samuel Kwadrat, who represents Rhine Legacy Capital. The lender effectively managed the transaction process from funding to servicing, demonstrating their in-house capabilities to ensure efficiency and reliability throughout the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,534,000.00
Monthly NOI$70,226.67
Monthly Debt Service$66,582.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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