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PIMCO Provides $65M Refinance Loan For 316-Unit Multifamily Property In Raleigh, NC

Property Image
FINANCED
$65,000,000
Christopher (Chris) Apone
Charles Foschini
Mitch Sinberg
+ 1

North Carolina

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MultiFamily
Financed 06/13/2022
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Property Image
FINANCED

PIMCO Provides $65M Refinance Loan For 316-Unit Multifamily Property In Raleigh, NC

1101 Club Exchange Drive

See Similar Deals
MultiFamily
Financed 06/13/2022
Christopher (Chris) Apone
Charles Foschini
Mitch Sinberg
+ 1
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 1101 Club Exchange Drive in Raleigh, North Carolina has been involved in a recent closed transaction. The property consists of 316 units and is owned by Meyers Group. The transaction took place on 06/13/2022.

Summary of Transaction Details:

The loan for the property was provided by PIMCO. The brokers involved in the transaction include Charles Foschini, Chris Apone, Mitch Sinberg, and Matt Robbins from Berkadia.

Players

Charles Foschini
Berkadia
Charles Foschini
57 deals$3.1B volume(305) 267-6608
BROKER
Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Christopher (Chris) Apone
Berkadia
Christopher Apone
49 deals$2.4B volume
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
PIMCO
PIMCO
LENDER
MG
Meyers Group
LANDLORD

Details

FINANCED
IMAGE: Matt Robbins, Mitch Sinberg, Charles Foschini & Chris Apone DATE: 06/13/2022 ADDRESS: 1101 Club Exchange Drive MARKET: Raleigh, North Carolina ASSET TYPE: Multifamily ~ UNITS: 316 LENDER: PIMCO LANDLORD: Meyers Group BROKERS: Charles Foschini (@Gladesman1), Chris Apone, Mitch Sinberg (@TheJewishIceberg)& Matt Robbins - Berkadia (@Berkadia) LOAN AMOUNT: $65,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,000,000.00

Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00