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2313 Benson Gardens Boulevard

Updated Dec 21, 2023

Honor Bulkley Acquires Multifamily Property In Omaha, NE With $7.8M Loan From PGIM
FINANCEDMultiFamily

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%.

Players

Emil DePasquale

Black Bear Capital Partners

Broker

$2.2B

vol

94 deals

Broker

Omaha MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $44.8K per unit across 174 units on a published $7.8M (2021).

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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

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