Updated Oct 28, 2024
Providence Realty Investment Refinances $38.4M Multifamily Loan In Wellesley, MA With MassHousing And Rockport Mortgage
50 Grove Street, Wellesley, Massachusetts 02482, United States
$38,400,000
Units
125
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
A multifamily property in Wellesley, MA has recently undergone a refinancing transaction with a loan amount of $38,400,000. The property, located at 50 Grove St, consists of 125 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $38,400,000
- Address: 50 Grove St, Wellesley, MA
- Market: Wellesley, MA
- Units: 125
The loan was provided by masshousing''>MassHousing, represented by Chrystal Kornegay, and Rockport Mortgage, represented by Dan Lyons. The landlord of the property is Providence Realty Investment, LLC, with Raymond Uritescu as their representative.
Players
Wellesley 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93