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2625 Northvale Dr NE, Grand...

Valleytree Partners Secures $154.8M Loan From Dwight Mortgage Trust
FINANCEDMultiFamily

Valleytree Partners Secures $154.8M Loan From Dwight Mortgage Trust

2625 Northvale Dr NE, Grand Rapids...

$154,800,000

Building Size

Asset Type

MultiFamily

Closing

Jun 7, 2022

AI

The property involved in the transaction is a MultiFamily asset located at 2625 Northvale Dr NE, Grand Rapids. The loan amount for this property is $154,800,000.00.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $154,800,000.00
  • Address: 2625 Northvale Dr NE, Grand Rapids
  • Borrower: Valleytree Partners
  • Borrower's Representative: Marvin Jeremias (Crossmark Capital)
  • Lender: Dwight Mortgage Trust

The deal's key individuals and companies include the borrower, Valleytree Partners, and the lender, Dwight Mortgage Trust. Representing the borrower in this transaction is Marvin Jeremias from Crossmark Capital.

Players

Marvin Jeremias

Crossmark Capital

Broker

$983.6M

vol

12 deals

Broker
Dwight Capital
Dwight CapitalLender

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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