Updated Oct 28, 2024
Mechanics Mill Two, LLC Refinances Fall River Multifamily Property For $15.3M
1082 Davol Street, Fall River, Massachusetts 02720, United States
$15,340,000
Units
103
Asset Type
MultiFamily
Closing
Aug 22, 2022
About this deal
AI
The multifamily property located at 1082 Davol St in Fall River, MA has recently undergone a refinancing transaction. The property, consisting of 103 units, belongs to Mechanics Mill Two, LLC, with Anthony F. Cordeiro as the landlord. The loan for this transaction was provided by greystone''>Greystone, with Shana Daby representing the lender.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $15,340,000
- Loan Type: Refinance
- Loan Terms: A Fannie Mae loan with a 10-year term and a 30-year amortization period
This refinance loan will provide much-needed financial support to Mechanics Mill Two, LLC in managing and maintaining their multifamily property at 1082 Davol St in Fall River, MA. The loan, arranged by Shana Daby of Greystone, demonstrates the confidence of lending institutions in the potential and viability of the property.
Players
Fall River MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93