Black Bear Capital Partners (“BBCP”) Arranges $17.46M Construction Loan for Multifamily Development in Bayonne
FINANCED
$17,460,000
New Jersey
See Similar DealsMultiFamily
Financed
FINANCED
Black Bear Capital Partners (“BBCP”) Arranges $17.46M Construction Loan for Multifamily Development in Bayonne
111 Avenue F
See Similar DealsMultiFamily
Financed
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
A construction loan was arranged for a 65-unit multifamily development located at 111 Avenue F in Bayonne, New Jersey, with a loan amount of $17,460,000. The loan is structured as a 30-month floating-rate priced at Prime-0.25%, resulting in an effective rate of 6.75%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,460,000
- Loan Type: Construction
- Loan Terms: 30-Month floating-rate at Prime-0.25%
- Effective Rate: 6.75%
- Units: 65
- Address: 111 Avenue F
- Market: Bayonne, NJ
- Capital Markets Advisor: Emil DePasquale - Black Bear Capital Partners
Emil DePasquale from Black Bear Capital Partners acted as the capital markets advisor for this transaction, successfully facilitating the construction loan for the multifamily development project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,460,000.00
Monthly NOI$116,400.00
Monthly Debt Service$110,359.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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