Updated Oct 28, 2024
The Michaels Organization Acquires Multifamily Property In Springfield, MA With $21.2M Loan
15 Girard Ave, Springfield, Massachusetts, USA
$21,200,000
$23,555/SF
Building Size
900 SF
Asset Type
MultiFamily
Closing
May 2, 2021
About this deal
AI
The multifamily property located at 15 Girard Ave in Springfield, MA has recently undergone a closed transaction. The property consists of 201 units and is owned by The Michaels Organization, represented by Jed Henderson. The lender involved in this transaction is masshousing''>MassHousing, with Chrystal Kornegay serving as their representative.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,200,000
- Address: 15 Girard Ave
- Market: Springfield, MA
- Units: 201
Chrystal Kornegay from MassHousing provided the loan amount of $21,200,000 for this transaction. Jed Henderson, representing The Michaels Organization, played a crucial role as the landlord in this deal.
Players
Springfield MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Massachusetts multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93