Hudson Cos Acquires Multifamily Property In East Williamsburg For $66M Loan From PGIM Private Capital
FINANCED
$66,000,000
New York
See Similar DealsMultiFamily
FINANCED
Hudson Cos Acquires Multifamily Property In East Williamsburg For $66M Loan From PGIM Private Capital
19 Debevoise Avenue, Brooklyn, New York 11222, United States
See Similar DealsMultiFamily
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 19 Debevoise Avenue in East Williamsburg has been acquired in a closed transaction. The property consists of 557 units and is owned by Hudson Cos. It is situated in a prime location in East Williamsburg, offering potential for growth and investment opportunities.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Loan Type: Acquisition
The lender for this transaction is PGIM Private Capital. They provided a loan amount of $66,000,000 to facilitate the acquisition. This loan will support the new ownership in their investment strategy and future growth plans for the property.
David Kramer was the representative from Hudson Cos in this deal. He played a crucial role in ensuring a successful transaction and representing the interests of the landlord throughout the process.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$66,000,000.00
Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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