Updated Sep 5, 2024
Cornerstone Realty Capital Secures $8.125M Loan For Sagamore Village Residential Complex Acquisition
860 Sandwich Rd Centerville, MA 02632, USA
$8,125,000
$185/SF
Building Size
43,792 SF
Asset Type
MultiFamily
Closing
Aug 11, 2023
About this deal
AI
The Cornerstone Realty Capital, represented by broker Andrew Saccone, has secured $8.125 million in financing for the acquisition and renovation of a residential apartment complex in Sagamore Village, Cape Cod. The property is located at 860 Sandwich Rd and spans over 4.03 acres. The multifamily asset offers a total of 43,792 square feet of space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,125,000
- Address: 860 Sandwich Rd, Sagamore, MA
- Market: Sagamore, MA
- Broker: Andrew Saccone - Cornerstone Realty Capital
Andrew Saccone from Cornerstone Realty Capital played a vital role in securing the financing for this acquisition and renovation project. The loan was obtained specifically for the purpose of acquiring and improving the residential apartment complex in Sagamore Village, Cape Cod. This transaction highlights the expertise and strong negotiation skills of Andrew Saccone as a broker in the real estate industry.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93