WAM Partners Secures $27 Million Refinance Loan From Societe Generale Group For Midtown Multifamily Property
$27,000,000
$219/SF
Building Size
122,813 SF
Asset Type
MultiFamily
Closing
Nov 20, 2024
AI
The asset involved in this transaction is a multifamily property located in Midtown, encompassing a total square footage of 122,813 with 115 units. The loan amount secured for refinancing the property is $27,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,000,000
- Lender: Societe Generale Group
- Borrower: WAM Partners
- Broker: Chesky Klein - Meridian Capital Group
- Transaction Date: 11/20/2024
Chesky Klein, representing Meridian Capital Group, acted as the broker for this refinancing deal, facilitating the transaction between WAM Partners and Societe Generale Group. The involvement of these key players underscores the collaborative efforts in executing this financial arrangement.
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93