Updated May 22, 2025
Related Fund Management Secures $140 Million Loan For 34-Building Multifamily Portfolio In Bronx
$170,000,000
Units
2,021
Asset Type
MultiFamily
Closing
May 20, 2025
About this deal
AI
The asset involved in this transaction is a multifamily portfolio consisting of 34 buildings located in the Bronx, comprising a total of 2021 units. The loan amount for the acquisition of this portfolio is $140,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $140,000,000
- Address: 34-Building Portfolio
- Market: Bronx
- Lender: PGIM
- Landlord: Related Fund Management
- Loan Type: Acquisition
The deal involved brokers Gary Phillips, Will Silverman, Daniel Parker, Ethan Pond, Grant Frankel, and Auston Ingram representing the transaction for Eastdil Secured. Note regarding the property is that it consists of 34 buildings.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93