Providence Realty Investment Refinances Multifamily Property In Norton, MA For $29.6M With Lenders MassHousing And Rockport Mortgage
FINANCED
$29,600,000
Massachusetts
See Similar DealsMultiFamily
Financed 05/16/2022
FINANCED
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
See Similar DealsMultiFamily
Financed 05/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,600,000.00
Monthly NOI$197,333.33
Monthly Debt Service$187,092.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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