Providence Realty Investment Refinances $38.4M Multifamily Loan In Wellesley, MA With MassHousing And Rockport Mortgage
FINANCED
$38,400,000
Massachusetts
See Similar DealsMultiFamily
Financed 05/16/2022
FINANCED
Providence Realty Investment Refinances $38.4M Multifamily Loan In Wellesley, MA With MassHousing And Rockport Mortgage
50 Grove Street, Wellesley, Massachusetts 02482, United States
See Similar DealsMultiFamily
Financed 05/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,400,000.00
Monthly NOI$256,000.00
Monthly Debt Service$242,714.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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