Providence Realty Investment Refinances Multifamily Property In Needham, MA For $16.5M
FINANCED
$16,500,000
Massachusetts
See Similar DealsMultiFamily
Financed 05/16/2022
FINANCED
Providence Realty Investment Refinances Multifamily Property In Needham, MA For $16.5M
1035 Central Avenue, Needham, Massachusetts 02492, United States
See Similar DealsMultiFamily
Financed 05/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
Providence Realty Investment, LLC has successfully refinanced a multifamily property located at 1035 Central Ave in Needham, MA. The property consists of 61 units, making it an attractive investment opportunity in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Address: 1035 Central Ave, Needham, MA
- Market: Needham, MA
- Lender: masshousing''>MassHousing - Chrystal Kornegay
- Lender: Rockport Mortgage - Dan Lyons
- Landlord: Providence Realty Investment, LLC - Raymond Uritescu
The loan, used for the refinancing of the property, was provided by MassHousing, with Chrystal Kornegay representing the lender. Additionally, Rockport Mortgage, with Dan Lyons representing the lender, was involved in the loan transaction. The total loan amount for this refinancing deal was $16,500,000.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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