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.
On the Map
$38,400,000
MultiFamily
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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