Nihad Choudhury Secures $9.1M Refinance Loan For Baltimore Multifamily | Nihad Choudhury Secures $9.1M Refinance Loan For Baltimore Multifamily | LMF Commercial | Jake Gluck | MultiFamily | Loan

Summary

Loan

MARYLAND

MultiFamily

79,668 sqft

In a closed property transaction in Baltimore, MD, a multifamily asset with 78 units and a total square footage of 79,668 was refinanced for $9,100,000.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $9,100,000
Lender: Nihad Choudhury - LMF Commercial
Brokers: Jake Gluck - Fortune Capital Group

The loan terms for the refinancing deal include a 5-year full interest-only period with full cash out. The loan-to-value ratio (LTV) is 71%, and the debt yield (DY) is 9.6%. Additionally, the loan has a 1.30x interest-only debt service coverage ratio (DSCR).

These key individuals involved in the transaction are Nihad Choudhury from LMF Commercial acting as the lender and Jake Gluck from Fortune Capital Group serving as the broker. Their expertise and representation played a crucial role in successfully completing the refinancing deal.

Players

All
3

Agents
1
Agencies
1
Lenders
1

Jake Gluck

Director of Finance

Fortune Capital Group

LMF Commercial

Details

Deal Summary

FINANCED

IMAGE: Nihad Choudhury & Jake Gluck DATE: 12/19/2023 MARKET: Baltimore, MD ASSET TYPE: Multifamily ~ SF: 79,668 ~ UNITS: 78 LENDER: Nihad Choudhury (@NihadChy) - LMF Commercial BROKERS: Jake Gluck (@LuckyJack87) - Fortune Capital Group (@Fortune_Capital_Group) LOAN AMOUNT: $9,100,000 LOAN TYPE: Refinance LOAN TERMS: 5-year Full IO, Full cash out, 71% LTV, 9.6% DY, 1.30x IO DSCR

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AddressNihad Choudhury Secures $9.1M Refinance Loan For Baltimore Multifamily

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