Updated Oct 12, 2026
3650 REIT Provides $103.25M Loan For Southern Residential Portfolio Acquisition
South Carolina, Louisiana, Tennessee, Georgia
$103,250,000
$27/SF
Building Size
3,700,000 SF
Asset Type
MultiFamily
Closing
May 17, 2023
About this deal
AI
The Southern Residential Portfolio, a multifamily property located in South Carolina, Louisiana, Tennessee, and Georgia, was recently involved in a loan transaction. The loan, valued at $103,250,000, was provided by 3650 REIT for the purpose of recapitalization. The portfolio consists of approximately 3,700,000 square feet of space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $103,250,000
- Address: Southern Residential Portfolio
- Market: South Carolina, Louisiana, Tennessee, Georgia
Eddie Haber and Drew Anderman from Meridian Capital Group represented the landlord, which consists of DWREI, Onyx Partners, and Carlton Associates, in the loan deal. Notably, the new investment by 3650 REIT is subordinate to existing Fannie Mae senior mortgage loans, as mentioned in the broker's note.
On the Map
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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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93