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Updated Apr 20, 2026

Sheridan Capital Provides $22,500,000 Refinancing Loan For 54-Unit Multifamily In Bloomingburg
FINANCEDMultiFamily

Sheridan Capital Provides $22,500,000 Refinancing Loan For 54-Unit Multifamily In Bloomingburg

$22,500,000

Units

54

Asset Type

MultiFamily

Closing

Mar 29, 2026

About this deal

AI

The asset involved in this transaction is a multifamily property consisting of 54 units, located within the Bloomingburg market. The loan amount for this property transaction is $22,500,000, with the type of loan being a refinance.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $22,500,000
  • Lender: Sheridan Capital
  • Lender's Representative: Ralph Gelley - Sheridan Capital
  • Transaction Date: 3/30/2026

This transaction was facilitated by Ralph Gelley, who represents Sheridan Capital in this deal, highlighting the role of the lender's representative in securing financing for the property involved in the transaction.

Players

Ralph Gelley

Sheridan Capital

Broker

$118.9M

vol

7 deals

Broker
Ralph Gelley

Ralph Gelley

Sheridan Capital

Lender

$118.9M

vol

7 deals

Lender
Bilt advertisement

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

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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