Updated Oct 29, 2024
Nationwide Life Insurance Co. Provides $12M Loan For Somerset Multifamily Property At 745 Hamilton St
745 Hamilton Street
$12,000,000
Units
61
Asset Type
MultiFamily
Closing
Nov 20, 2020
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 745 Hamilton Street in Somerset. The transaction took place on November 20, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Market: Somerset
- Lender: Nationwide Life Insurance Co.
- Landlord: Country Classics
- Brokers: Matthew Pizzolato, Jim Cadranell, & Michael Lachs - JLL
- Loan Terms: 12-year, fixed-rate
- Units: 61
Matthew Pizzolato, Jim Cadranell, and Michael Lachs from JLL represented the parties involved in this transaction.
On the Map
$12,000,000
MultiFamily
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Players
Somerset 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93