Updated Oct 28, 2024
Dwight Mortgage Trust Provides $154.8M Acquisition Loan For Multifamily Properties In Lansing, Dearborn Heights, Roseville, Westland & Grand Rapids, Michigan
315 E Edgewood Blvd, Lansing, Michigan 48911, United States
$154,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 6, 2022
About this deal
AI
The multifamily properties located at 315 East Edgewood Boulevard, 26322 Westphal Street, 27201 Canfield Street West, 19700 Masonic Boulevard, 37670 Dale Drive, and 2625 Northvale Drive NE have been involved in a recent transaction in Lansing, Dearborn Heights, Roseville, Westland, and Grand Rapids, Michigan. The properties were acquired by Valleytree Partners.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $154,800,000
- Lender: Dwight Mortgage Trust - Adam Sasouness
- Brokers: Marvin Jeremias - Crossmark Capital; Aaron Moll - Berkadia
Adam Sasouness from Dwight Mortgage Trust provided the acquisition loan for the transaction. Marvin Jeremias from Crossmark Capital and Aaron Moll from Berkadia acted as brokers in the deal.
On the Map
$154,800,000
MultiFamily
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Players
Lansing 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93