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Rockport Mortgage Refinances 70-Unit Multifamily Property In Carver, MA For $10.3M
FINANCED
$10,300,000
Massachusetts
See Similar DealsMultiFamily
Financed 06/14/2024
FINANCED
Rockport Mortgage Refinances 70-Unit Multifamily Property In Carver, MA For $10.3M
1 Meadowbrook Way
See Similar DealsMultiFamily
Financed 06/14/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
The $10.3 million HUD Section 223(f) refinance loan was finalized by Rockport Mortgage Corporation for Prence Grant and Meadowbrook Apartments, a multifamily property consisting of 70 units of subsidized affordable senior housing located at 1 Meadowbrook Way in Carver, MA.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,300,000
- Asset Type: Multifamily
- Units: 70
- Lender: Dan Lyons - Rockport Mortgage Corporation
- Loan Type: Refinance
- Address: 1 Meadowbrook Way
- Market: Carver, MA
Dan Lyons from Rockport Mortgage Corporation acted as the lender in the deal, providing the refinancing for the senior housing property. The loan transaction reflects a strategic financial move benefiting both the borrower and the lender involved in the intricate financing arrangement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,300,000.00
Monthly NOI$68,666.67
Monthly Debt Service$65,103.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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