Updated Oct 28, 2024
Providence Realty Investment Refinances Multifamily Property In Norton, MA For $29.6M With Lenders MassHousing And Rockport Mortgage
4 Norton Glen Road, Norton, Massachusetts 02766, United States
$29,600,000
Units
150
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
A multifamily property located at 4 Norton Glen Rd in Norton, MA has recently undergone a refinancing transaction. The property consists of 150 units and is owned by Providence Realty Investment, LLC, represented by Raymond Uritescu. The loan amount for the refinancing was $29,600,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,600,000
- Address: 4 Norton Glen Rd, Norton, MA
- Market: Norton, MA
- Units: 150
The refinancing loan was provided by masshousing''>MassHousing, represented by Chrystal Kornegay, and Rockport Mortgage, represented by Dan Lyons.
Chrystal Kornegay represents MassHousing, a key lender in the deal, while Dan Lyons represents Rockport Mortgage. Both lenders played a crucial role in the refinancing transaction of the Norton, MA multifamily property.
Players
Norton 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93