Arbor Lending Group Provides $379.62M Loan For GSH Real Estate Multifamily Portfolio
FINANCED
$379,620,000
Michigan
See Similar DealsMultiFamily2,500,000 SF
Financed 05/10/2024
FINANCED
Arbor Lending Group Provides $379.62M Loan For GSH Real Estate Multifamily Portfolio
8375 Honeytree Boulevard, 27517 Gateway Drive North, 31200 Hunters Drive, 2770 Pine Knoll Drive & 5284 Marlboro Pike
See Similar DealsMultiFamily2,500,000 SF
Financed 05/10/2024
Summary
MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$151
Total Square Footage:2,500,000 SF
Transaction Type:Loan
The multifamily property portfolio involved in the transaction includes 8375 Honeytree Boulevard, 27517 Gateway Dr. E., 31200 Hunters Dr., 2770 Pine Knoll Dr., and 5284 Marlboro Pike. The assets are located in Canton, Farmington Hills, Auburn Hills, MI, and Capitol Heights, MD. The total number of units across these properties amounts to 2,021.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $379,620,000
- Lender: ArborLending Group
- Landlord: GSH Real Estate
- Brokers: Clifford Welden, Anthony Orso & Henry Stimler - Newmark
- Loan Type: Recapitalization
- Loan Terms: 5-Asset Loan Modification
Clifford Welden, Anthony Orso, and Henry Stimler from Newmark acted as the brokers in the deal, facilitating the transaction between the parties involved. GSH Real Estate served as the landlord overseeing the multifamily properties across different locations. Arbor Lending Group provided the loan for the recapitalization, amounting to $379,620,000 with specific terms for the 5-Asset Loan Modification.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$379,620,000.00
Monthly NOI$2,530,800.00
Monthly Debt Service$2,399,456.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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