Cushman & Wakefield Arranges $67.4M Bridge Loan For Multifamily Portfolio In NJ, AR, OH & WI
$67,450,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 19, 2022
AI
The multifamily portfolio, located across New Jersey, Arkansas, Ohio, and Wisconsin, has recently undergone a closed transaction. The lenders involved in this deal were Greystone, represented by Eliav Dan, Gary Stellato, Max Spelling, Alan Litt, Tom Lally, Joseph Borenstein, and Jonathan Cohen from Greystone Monticello. The landlords of this portfolio are Conquest Housing and BLVD Communities. Cushman & Wakefield, with brokers Rob Rubano, Marc Renard, Keith Padien, Brian Share, Joseph Lieske, and Ernesto Sanchez, facilitated this transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,450,000
- Loan Type: Bridge Loan
The key individuals and companies involved in this deal were the lenders, Greystone and Greystone Monticello, represented by Eliav Dan, Gary Stellato, Max Spelling, Alan Litt, Tom Lally, Joseph Borenstein, and Jonathan Cohen. The landlords, Conquest Housing and BLVD Communities, played a significant role in this transaction as well. The brokers, Rob Rubano, Marc Renard, Keith Padien, Brian Share, Joseph Lieske, and Ernesto Sanchez from Cushman & Wakefield, facilitated the entire process.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93