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Bluerock Residential Growth REIT Secures $27.4M Loan For Raleigh Multifamily Property

Property Image
FINANCED
$27,400,000
Scott Chisholm
Rich Swietkowski
Michael Zampetti

North Carolina

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MultiFamily1,218 SF
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FINANCED

Bluerock Residential Growth REIT Secures $27.4M Loan For Raleigh Multifamily Property

1500 Sunbow Falls Lane, Raleigh, NC 27609

See Similar Deals
MultiFamily1,218 SF
Financed
Scott Chisholm
Rich Swietkowski
Michael Zampetti
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$22495
Total Square Footage:1218 SF
Transaction Type:Loan

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.

Players

Scott Chisholm
Scott Chisholm
1 deal$27.4M volume
BROKER
Michael Zampetti
Michael Zampetti
1 deal$27.4M volume
BROKER
Rich Swietkowski
Rich Swietkowski
1 deal$27.4M volume
BROKER
BI
Bluerock Residential Growth REIT, Inc
LANDLORD

Details

FINANCED
IMAGE: Scott Chisholm & Michael Zampetti DATE: 07/26/2021 ADDRESS: 1500 Sunbow Falls Ln MARKET: Raleigh, North Carolina ASSET TYPE: Multifamily LANDLORD: Bluerock Residential Growth REIT, Inc BROKERS: Scott Chisholm, Michael Zampetti & Rich Swietkowski - Greystone LOAN AMOUNT: $27,400,000 LOAN TERMS: 10-year, fixed rate loan with a 30-year amortization and five years of interest-only payments UNITS: 276

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,400,000.00

Monthly NOI$182,666.67
Monthly Debt Service$173,186.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00