Updated Oct 28, 2024
CIT Real Estate Finance Provides $35.6M Loan For Multifamily Properties In Haverhill & Lowell, MA
160 Merrimack Street, Haverhill, Massachusetts 01830, United States
$35,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 30, 2022
About this deal
AI
A multifamily property located at 160 Merrimack St & 165 Thorndike St in Haverhill & Lowell, MA has recently undergone a closed transaction. The property features multiple residential units and is in a prime location.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,600,000
- Loan Amount: $35,600,000
- Market: Haverhill & Lowell, MA
CIT Real Estate Finance, represented by Chris Niederpruem, provided the loan for this transaction. They played a crucial role in facilitating the financing process.
Chris Niederpruem, as a representative of CIT Real Estate Finance, was instrumental in finalizing the loan agreement and ensuring a smooth transaction for all parties involved.
Players
Haverhill MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93