Providence Realty Investment Refinances Loan For Abington, MA Multifamily Property
FINANCED
$25,600,000
Massachusetts
See Similar DealsMultiFamily
Financed 05/16/2022
FINANCED
Providence Realty Investment Refinances Loan For Abington, MA Multifamily Property
585 Chestnut Street, Abington, Massachusetts 02351, United States
See Similar DealsMultiFamily
Financed 05/16/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
Providence Realty Investment, LLC has refinanced a multifamily property in Abington, MA. The property, located at 585 Chestnut St, consists of 130 units. The refinance loan was provided by masshousing''>MassHousing represented by Chrystal Kornegay and Rockport Mortgage represented by Dan Lyons. The loan amount for the transaction was $25,600,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,600,000
- Units: 130
- Market: Abington, MA
- Lender: MassHousing - Chrystal Kornegay & Rockport Mortgage - Dan Lyons
- Landlord: Providence Realty Investment, LLC - Raymond Uritescu
- Loan Type: Refinance
The individuals involved in the deal were Chrystal Kornegay from MassHousing, Dan Lyons from Rockport Mortgage, and Raymond Uritescu representing Providence Realty Investment, LLC.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,600,000.00
Monthly NOI$170,666.67
Monthly Debt Service$161,809.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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