Forte Real Estate Development Secures $46.5 Million Refinance Loan For 220 Lincoln Boulevard Multifamily
220 Lincoln Boulevard
$46,500,000
$206/SF
Building Size
225,000 SF
Asset Type
MultiFamily
Closing
Sep 6, 2024
AI
The property asset involved in this transaction is a MultiFamily building located at 220 Lincoln Boulevard in the Middlesex market. The asset encompasses a total square footage of 225,000 and consists of 200 units.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $46,500,000
- Landlord: Forte Real Estate Development
- Loan Type: Refinance
- Image: Drew Fletcher, Bryan Grover & John Williams
The key individuals involved in this transaction are Drew Fletcher, Bryan Grover, and John Williams, who represent Greystone in this refinancing deal. They played a significant role in facilitating the loan secured by the property.
Players
Middlesex 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93