FINANCEDMultiFamily
Greystone Provides $56.32M Refinance Loan For Multifamily Property In Pinehurst, NC
$56,321,000
$176/SF
Building Size
318,910 SF
Asset Type
MultiFamily
Closing
Aug 19, 2024
AI
The asset involved in this transaction is a multifamily property located in Pinehurst, NC, comprising 318,910 square feet and consisting of 288 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,321,000
- Lender: greystone'>Greystone - Freddie Mac
- Loan Type: Refinance
- Loan Terms: 10-year Freddie Mac ($50.07M) + Coterminous Preferred Equity ($6.25M)
- Notable Execution: Greystone provided a Freddie Mac + Preferred Equity execution to recapitalize an existing bridge loan.
- Broker Representation: Harrison Drucker, Dan Sacks & Matthew Zisler – Greystone
The key individuals involved in the transaction include brokers Harrison Drucker, Dan Sacks, and Matthew Zisler, representing Greystone in the financing and refinancing arrangement.
Players
Pinehurst 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93