AI Capital Lending Closes $9,850,000 Recapitalization Loan For 51-Unit Portfolio In Essex County
$9,850,000
$195/SF
Building Size
50,370 SF
Asset Type
MultiFamily
Closing
Apr 15, 2026
AI
The asset involved in this transaction is a multifamily portfolio located in Essex County, consisting of 51 units with a total square footage of 50,370. The portfolio includes two stabilized multifamily properties, ten two-family homes, and two multifamily ground-up developments, with a total of 19 units, creating a diverse mix of income-producing assets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,850,000
- Loan Type: Recapitalization
- Lender: Anthony Iervolino - AI Capital Lending
- Market: Essex County
- Number of Units: 51
- Total Square Footage: 50,370
- Closing Time: 16 days
Anthony Iervolino of AI Capital Lending facilitated the loan, providing a debt restructuring solution that demonstrates their capability as a direct balance-sheet lender. AI Capital Lending's “Speed Meets Delivery” philosophy was highlighted through the rapid closure of this transaction, showcasing their ability to enhance collateral support for the deal.
Players
Market 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
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93