Avi Geller Of Meridian Capital Group Secures $3.75M Loan For Cherry Hill Condominium Association
$3,750,000
$3,750,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Jul 31, 2024
AI
The asset involved in this transaction is a condominium association comprising 375 units, located in the Cherry Hill market. A loan amounting to $3,750,000 has been secured under the category of Condo Construction Loan.
Summary of transaction details:
- Property Type: Condominium Association
- Transaction Amount: $3,750,000
- Units: 375
- Broker: Avi Geller - Meridian Capital Group
- Loan Type: Condo Construction Loan
- Date: 7/30/2024
- Market: Cherry Hill
Avi Geller from Meridian Capital Group is the representative broker involved in this transaction, playing a key role in facilitating the loan for the condominium association. The transaction highlights the financial backing available for developments within the Cherry Hill area.
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93