Updated Oct 28, 2024
Dwight Capital Provides $35.4M Loan For Multifamily Property In Troy, Mich
500 Coachman Drive, Troy, MI 48083, USA
$35,400,000
$166/SF
Building Size
212,076 SF
Asset Type
MultiFamily
Closing
Oct 12, 2021
About this deal
AI
Located at 500 Coachman Drive in Troy, Michigan, this multifamily property is a prominent asset in the local market. With a total of 544 units, it offers ample living space for residents in the area.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,400,000
- Loan: Dwight Capital - Karnveer Bal
Karnveer Bal from Dwight Capital played a significant role in this transaction, serving as the lender's representative. Their expertise and involvement helped facilitate the loan process for the property. The loan amount of $35,400,000 has provided the necessary financial support for the multifamily asset, allowing for continued growth and development in the Troy market.
Players
Troy MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Michigan multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93