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Carlton Equities Secures $34.8 Million Refinance Loan From UBS For 280-Unit Multifamily Property

Property Image
FINANCED
$34,800,000
Henry Stimler
Ricky Warner

New York

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MultiFamily150,000 SF
Financed 07/30/2024
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Property Image
FINANCED

Carlton Equities Secures $34.8 Million Refinance Loan From UBS For 280-Unit Multifamily Property

MultiFamily150,000 SF
Financed 07/30/2024
Henry Stimler
Ricky Warner
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Price Per Square Foot:$232
Total Square Footage:150,000 SF
Transaction Type:Loan

The property involved in this transaction is a multifamily asset consisting of 280 units located in the New York market. The loan amount secured for this asset is $34,800,000, under a refinance loan type structured through a CMBS execution. The loan terms include a sizable cash-out refinance, with a five-year term, full term interest-only payment structure, and an all-in rate of 6.20%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,800,000
  • Lender: UBS
  • Landlord: Carlton Equities
  • Brokers: Ricky Warner, Henry Stimler & Bill Weber - Newmark
  • Loan Type: Refinance
  • Loan Terms: CMBS Execution | Sizable Cash-Out Refinance | 5yr Term | Full Term IO | 6.20% All-in Rate

The brokers representing this transaction are Ricky Warner, Henry Stimler, and Bill Weber from Newmark, indicating their involvement in facilitating the refinance process for Carlton Equities with UBS as the lender. Their role includes navigating the complexities of the transaction to meet the financial goals of the landlord.

Players

Henry Stimler
Newmark
Henry Stimler
53 deals$4.7B volume
BROKER
Ricky Warner
Newmark
Ricky Warner
40 deals$2.5B volume(818) 687-0714
BROKER
UBS
UBS
LENDER

Details

FINANCED
IMAGE: Ricky Warner, Henry Stimler & Bill Weber DATE: 7/29/2024 MARKET: New York ASSET TYPE: Multifamily ~ UNITS: 280 LENDER: UBS LANDLORD: Carlton Equities BROKERS: Ricky Warner (@RickyWarner1), Henry Stimler (@HenryStimler) & Bill Weber - Newmark (@Newmark) LOAN AMOUNT: $34,800,000 LOAN TYPE: Refinance Loan Terms: CMBS Execution | Sizable Cash-Out Refinance | 5yr Term | Full Term IO | 6.20% All-in Rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,800,000.00

Monthly NOI$232,000.00
Monthly Debt Service$219,959.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00