Updated Oct 28, 2024
PIMCO Provides $65M Refinance Loan For 316-Unit Multifamily Property In Raleigh, NC
1101 Club Exchange Drive
$65,000,000
Units
316
Asset Type
MultiFamily
Closing
Jun 13, 2022
About this deal
AI
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:
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Market: Raleigh, North Carolina
- Lender: PIMCO
- Landlord: Meyers Group
- Brokers: Charles Foschini, Chris Apone, Mitch Sinberg, and Matt Robbins - Berkadia
- Loan Type: Refinance
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.
On the Map
$65,000,000
MultiFamily
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Players
Holly Springs 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93