Wicker Park Capital Management Refinances Multifamily Property In Alabama For $37M
1225 Willowbrook Drive South East
$37,000,000
$85,846/SF
Building Size
431 SF
Asset Type
MultiFamily
Closing
Mar 30, 2023
AI
The multifamily property located at 1225 Willowbrook Drive South East in Alabama has recently undergone a refinancing transaction. The property consists of 431 units and is owned by Wicker Park Capital Management.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,000,000
- Loan Type: Refinance
The lending for this refinancing deal was provided by Fannie Mae. The brokers involved in the transaction were Charles Foschini, Christopher (Chris) Apone, and Lourdes Carranza-Alvarez, who represented Berkadia. They played an instrumental role in facilitating the transaction and ensuring its successful completion.
Players
Market 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93