Updated Oct 28, 2024
Providence Realty Investment Refinances Loan For Abington, MA Multifamily Property
585 Chestnut Street, Abington, Massachusetts 02351, United States
$25,600,000
Units
130
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
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.
On the Map
$25,600,000
MultiFamily
View full map
Players
Abington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Raymond Uritescu to view all their deals.
Browse Massachusetts multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93