Updated Feb 16, 2024
Stormfield Capital Provides $6.3M Bridge Loan For Multifamily Property At 148 River Ford Pkwy In Asheville, NC
148 River Ford Parkway, Asheville, North Carolina 28803, United States
$6,337,500
$113/SF
Building Size
56,104 SF
Asset Type
MultiFamily
Closing
Sep 14, 2022
About this deal
AI
The multifamily property located at 148 River Ford Pkwy in Asheville, NC was recently involved in a closed transaction. The property spans approximately 56,104 square feet and consists of 115 units, making it an attractive investment in the local market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Date: 09/15/2022
- Address: 148 River Ford Pkwy, Asheville, NC
- Market: Asheville, NC
- Square Footage: 56,104
- Number of Units: 115
- Lender: Stormfield Capital
- Loan Representatives: Daniel Heetmann & Wesley Carpenter
- Landlord: Andrew Abdul-Wahab
- Broker: Alexandra Yellin - Half Moon Investments LLC
- Loan Amount: $6,337,500
- Loan Type: Bridge
The transaction involved Stormfield Capital as the lender, represented by Daniel Heetmann and Wesley Carpenter. The landlord of the property is Andrew Abdul-Wahab. The broker who facilitated the deal was Alexandra Yellin from Half Moon Investments LLC.
Players
Asheville 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
2.50%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93