Updated Oct 28, 2024
Lombardo Homes Of Shelby Township Secures $22.6M Loan For 96-Unit Multifamily In Shelby Township, Michigan
14973 Milan Ct, Shelby Township, Michigan 48315, United States
$22,600,000
Units
96
Asset Type
MultiFamily
Closing
Nov 1, 2022
About this deal
AI
The multifamily property at 14973 Milan Court in Shelby Township, Michigan has been involved in a recent transaction. The property consists of 96 units and is owned by Lombardo Homes of Shelby Township. The transaction took place on 11/02/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,600,000
- Address: 14973 Milan Court, Shelby Township, Michigan
- Market: Shelby Township, Michigan
- Lender: greystone''>Greystone - Stephen Rosenberg
- Landlord: Lombardo Homes of Shelby Township
The loan for this transaction was provided by Greystone, with Stephen Rosenberg representing the lender. Additional individuals and companies involved in the deal include Lombardo Homes of Shelby Township as the landlord.
Players
Shelby Township 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93