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Baseline Partners Provides $10.08M Acquisition Loan For Charlotte Multifamily Portfolio

Property Image
FINANCED
$10,080,000

North Carolina

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MultiFamily
Financed 06/10/2022
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Property Image
FINANCED

Baseline Partners Provides $10.08M Acquisition Loan For Charlotte Multifamily Portfolio

2336 Julia Avenue, Charlotte, North Carolina 28206, United States

See Similar Deals
MultiFamily
Financed 06/10/2022
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 2336-2479 Julia Ave., 2415-2457 Carmine St., and 2200-2244 Alma Court in Charlotte, NC, was involved in a recent transaction. The property consists of a portfolio of three buildings and offers a total of 104 apartment units. The transaction took place on 06/10/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,080,000
  • Units: 104

The loan for the acquisition was provided by Baseline Partners. The loan amount of $10,080,000 represents 71% of the property's loan-to-value ratio (LTV). The loan terms included a 2-year fixed rate with full-term interest-only payments.

All States Equity Group served as the landlord in the transaction. Zach Lutwak-Fitzgerald from Black Bear Capital Partners represented the buyer as a broker.

Players

Zach Lutwak-Fitzgerald
Black Bear Capital Partners
Zach Lutwak-Fitzgerald
29 deals$802.9M volume
BROKER
Baseline Partners
Baseline Partners
LENDER

Details

FINANCED
IMAGE: Zach Lutwak-Fitzgerald DATE: 06/10/2022 ADDRESS: 2336-2479 Julia Ave., 2415-2457 Carmine St. & 2200-2244 Alma Court MARKET: Charlotte, NC ASSET TYPE: Multifamily ~ UNITS: 104 LENDER: Baseline Partners LANDLORD: All States Equity Group BROKER: Zach Lutwak-Fitzgerald - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $10,080,000 LOAN TYPE: Acquisition LOAN TERMS: The acquisition of the three (3) property multifamily portfolio, consisting of 104 units, was financed with a 2-year fixed rate loan at 71% LTV and features full-term interest-only payments.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,080,000.00

Monthly NOI$67,200.00
Monthly Debt Service$63,712.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00