Updated Oct 29, 2024
Greystone Secures $27.3M Loan For Development Site Portfolio In Greensboro, NC, On Behalf Of Featherston
3819 Cotswold Avenue Greensboro, North Carolina 27410, USA
$27,325,000
Building Size
—
Asset Type
Development Site
Closing
Aug 8, 2023
About this deal
AI
Greystone has secured a $27.3 million Fannie Mae Delegated Underwriting & Servicing (DUS) financing for a two-property portfolio in Greensboro, North Carolina. The development site is located at 3819 Cotswold Ave and 3800 Cotswold Ave, offering a prime location for future construction projects.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $27,325,000
- Lender: Greystone
- Lender Representative: Justin Hechler
- Borrower: Featherston
Justin Hechler, representing Greystone, played a crucial role in securing the $27.3 million loan for the development site portfolio in Greensboro, North Carolina. With this financing, Featherston is poised to embark on new construction projects, leveraging the prime location offered by the properties at 3819 Cotswold Ave and 3800 Cotswold Ave.
On the Map
$27,325,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93