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450 Clermont Terrace

Daniel L. Goodwin, G. Joseph Cosenza & Joseph Binder Of The Inland Real Estate Group Secures $65.75 Million Loan From Fannie Mae For 450 Clermont Terrace Multifamily In Union
FINANCEDMultiFamily

Daniel L. Goodwin, G. Joseph Cosenza & Joseph Binder Of The Inland Real Estate Group Secures $65.75 Million Loan From Fannie Mae For 450 Clermont Terrace Multifamily In Union

450 Clermont Terrace

$65,750,000

Building Size

Asset Type

MultiFamily

Closing

Mar 20, 2025

AI

The asset involved in this transaction is a multi-family property located at 450 Clermont Terrace in the Union market. The loan amount for this property is $65,750,000.00.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $65,750,000.00
  • Address: 450 Clermont Terrace
  • Market: Union
  • Lender: Fannie Mae
  • Landlord: Daniel L. Goodwin, G. Joseph Cosenza & Joseph Binder - The Inland Real Estate Group of Companies, Inc

The individuals involved in this transaction include Chad Musgrove representing M&T Bank, and Wayne Elibero and Tovah Bakstran both representing M&T Realty Capital Corporation. These brokers played pivotal roles in facilitating the loan arrangement for the transaction.

Players

Wayne Elibero

M&T Realty Capital Corporation

Broker

$65.8M

vol

1 deal

Broker
Fannie Mae
Fannie MaeLender

Union 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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93