Updated Dec 21, 2023
Honor Bulkley Acquires Multifamily Property In Omaha, NE With $7.8M Loan From PGIM
2313 Benson Gardens Boulevard
$7,800,000
Units
174
Asset Type
MultiFamily
Closing
Aug 19, 2021
About this deal
AI
Located in Omaha, NE, the multifamily property at 2105, 2237, and 2313 Benson Gardens Boulevard has recently undergone a closed transaction. The property consists of 174 units and was financed through an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Loan Type: Acquisition
- Loan Amount: $7,800,000
- Loan Terms: The loan has a 10-year term with 3 years of interest only payments. The fixed interest rate is set at 3.20%.
- Lender: PGIM
- Landlord: Honor Bulkley
- Broker: Emil DePasquale - Black Bear Capital Partners
Emil DePasquale from Black Bear Capital Partners represented the parties involved in this transaction. The financing was provided by PGIM, and the property is now under the ownership of Honor Bulkley. The 174-unit multifamily property was financed with a loan amount of $7,800,000 on a 10-year term with 3 years of interest only payments at a fixed rate of 3.20%.
Omaha 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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93