Leverage Capital Provides $1.95M Rental Loan For 10-Unit Residential Property In Newark, NJ

A residential property located at 164-168 Elm St in Newark, NJ, has been involved in a recent closed transaction. The property is a single-family home with 10 residential units.

Summary of transaction details

• Property Type: SFR (10 Residential Unit)
• Transaction Amount: $1,950,000
• Loan Type: Rental
• Loan Terms: 75% LTV, Rate 4.55, 30 Year Fixed
• Lender: Leverage Capital
• Landlord: Mahir Allan
• Brokers: Eric Panecki & Veronique Hut - Leverage Capital

The financing for this transaction was provided by Leverage Capital. The loan amount was $1,950,000, with a loan-to-value ratio of 75%. The loan type was rental, with a fixed interest rate of 4.55% for a 30-year term.

The landlord involved in this deal is Mahir Allan. The brokers representing the transaction were Eric Panecki and Veronique Hut from Leverage Capital.