BNE Real Estate & Canoe Brook Secures $43 Million Refinance Loan From US Bank For Multifamily Asset
$43,000,000
$143/SF
Building Size
300,000 SF
Asset Type
MultiFamily
Closing
Aug 1, 2024
AI
The asset involved in the transaction is a multifamily property comprising 175 units over a total square footage of 300,000. The transaction pertains to the refinancing of this property located in the Northeast market, indicating a significant financial maneuver concerning the management of the asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Loan Type: Refinance
- Lender: US Bank
- Landlord: BNE Real Estate & Canoe Brook
- Brokers: John Williams, Jesse Kopecky, Bryan Grover & Drew Fletcher - Greystone
The transaction highlights key individuals and companies involved in this deal, specifically the roles of John Williams, Jesse Kopecky, Bryan Grover, and Drew Fletcher, all representing Greystone as brokers. Their involvement underlines the collaborative efforts in facilitating this refinance transaction for the multifamily property.
Players
Hillsborough 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93