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
Union 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93