MassHousing And Rockport Mortgage Refinance Multifamily In Reading, MA For $29.3M
FINANCED
$29,300,000
Massachusetts
See Similar DealsMultiFamily122,112 SF
Financed 05/16/2022
FINANCED
MassHousing And Rockport Mortgage Refinance Multifamily In Reading, MA For $29.3M
2 Elderberry Lane, Reading, Massachusetts 01867, United States
See Similar DealsMultiFamily122,112 SF
Financed 05/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$239
Total Square Footage:122,112 SF
Transaction Type:Loan
Providence Realty Investment, LLC has successfully refinanced a multifamily property located at 2 Elderberry Ln in Reading, MA. The property consists of 114 units and is situated in a thriving market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $29,300,000
- Address: 2 Elderberry Ln, Reading, MA
- Market: Reading, MA
- Lender: masshousing''>MassHousing - Chrystal Kornegay & Rockport Mortgage - Dan Lyons
- Landlord: Providence Realty Investment, LLC - Raymond Uritescu
The financing for this transaction was provided by MassHousing, represented by Chrystal Kornegay, and Rockport Mortgage, represented by Dan Lyons. Raymond Uritescu of Providence Realty Investment, LLC acted as the landlord.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,300,000.00
Monthly NOI$195,333.33
Monthly Debt Service$185,195.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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