Updated Oct 28, 2024
Bluerock Residential Growth REIT Secures $27.4M Loan For Raleigh Multifamily Property
1500 Sunbow Falls Lane, Raleigh, NC 27609
$27,400,000
$22,495/SF
Building Size
1,218 SF
Asset Type
MultiFamily
Closing
Jul 26, 2020
About this deal
AI
The multifamily property located at 1500 Sunbow Falls Ln in Raleigh, North Carolina was involved in a recent transaction. The transaction took place on 07/26/2021 and the property was acquired by Bluerock Residential Growth REIT, Inc. The property consists of 276 units and is situated in the Raleigh market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,400,000
- Loan Terms: 10-year, fixed rate loan with a 30-year amortization and five years of interest-only payments
The deal was facilitated by brokers Scott Chisholm, Michael Zampetti, and Rich Swietkowski from Greystone. They represented Bluerock Residential Growth REIT, Inc. in the transaction.
On the Map
$27,400,000
$22,495/SF
MultiFamily
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Players
Raleigh 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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93