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Concordia Properties Secures $16.8M Financing For Multifamily Property In Burlington, NC

Property Image
FINANCED
$16,820,000

North Carolina

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MultiFamily122,500 SF
Financed 02/24/2022
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Property Image
FINANCED

Concordia Properties Secures $16.8M Financing For Multifamily Property In Burlington, NC

1515 South Mebane Street, Burlington, North Carolina 27215, United States

See Similar Deals
MultiFamily122,500 SF
Financed 02/24/2022
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$137
Total Square Footage:122,500 SF
Transaction Type:Loan

1515 S Mebane St. in Burlington, NC is a multifamily property with a total square footage of 122,500 and consists of 144 units. The property was recently involved in a closed transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $16,820,000
  • Market: Burlington, NC

The landlord of 1515 S Mebane St. is Concordia Properties. The transaction was facilitated by Steven Vegh of Westwood Realty Associates, who represented the parties involved in the deal. The loan for the transaction was a financing type, amounting to $16,820,000.

Players

Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
CP
Concordia Properties
LANDLORD

Details

FINANCED
IMAGE: Steven Vegh DATE: 02/24/2022 ADDRESS: 1515 S Mebane St. MARKET: Burlington, NC ASSET TYPE: Multifamily ~ SF: 122,500 ~ UNITS: 144 LANDLORD: Concordia Properties BROKER: Steven Vegh (@StevenVegh) - Westwood Realty Associates LOAN AMOUNT: $16,820,000 LOAN TYPE: Financing

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,820,000.00

Monthly NOI$112,133.33
Monthly Debt Service$106,313.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00