Updated Oct 28, 2024
MassHousing And Rockport Mortgage Refinance Multifamily In Reading, MA For $29.3M
2 Elderberry Lane, Reading, Massachusetts 01867, United States
$29,300,000
$239/SF
Building Size
122,112 SF
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
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.
On the Map
$29,300,000
$239/SF
MultiFamily
View full map
Players
Reading MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Raymond Uritescu to view all their deals.
Browse Massachusetts multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93