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Lument Provides Acquisition Loan For Multifamily Property In Ridgeland, Mississippi

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FINANCED
$37,407,280

Mississippi

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MultiFamily374,212 SF
Financed 01/05/2022
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FINANCED

Lument Provides Acquisition Loan For Multifamily Property In Ridgeland, Mississippi

6811 Old Canton Road, Ridgeland, Mississippi 39157, United States

See Similar Deals
MultiFamily374,212 SF
Financed 01/05/2022
the dealplayerscompscontact
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Summary

MISSISSIPPI
Asset Type:MultiFamily
Price Per Square Foot:$100
Total Square Footage:374,212 SF
Transaction Type:Loan

The multifamily property located at 6811 Old Canton Rd in Ridgeland, Mississippi has been involved in a recent transaction. The property spans approximately 374,212 square feet and consists of 308 units.

Summary of transaction details

  • Property Type: Multifamily
  • Address: 6811 Old Canton Rd, Ridgeland, Mississippi
  • Market: Ridgeland, Mississippi
  • Square Footage: 374,212
  • Number of Units: 308

The loan for this acquisition was provided by lument''>Lument. The loan amount was $37,407,280. The loan type is an acquisition loan with terms of 3+1=1 rate in the low 3s and a loan-to-cost ratio of 75%.

Hannah Howard, from Meridian Capital Group, represented the buyer as the broker in this transaction.

Players

Hannah Howard
Hannah Howard
16 deals$490M volume
BROKER
Lument
Lument
LENDER

Details

FINANCED
IMAGE: Jonathan Zilber & Hannah Howard DATE: 01/05/2022 ADDRESS: 6811 Old Canton Rd MARKET: Ridgeland, Mississippi ASSET TYPE: Multifamily ~ SF: 374,212 ~ UNITS: 308 LENDER: Lument BROKER: Hannah Howard (@Broker_Hannah_Howard) - Meridian Capital Group LOAN AMOUNT: $37,407,280 LOAN TYPE: Acquisition LOAN TERMS: 3+1=1 rate in low 3s 75%LTC

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,407,280.00

Monthly NOI$249,381.87
Monthly Debt Service$236,439.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00