Updated Oct 28, 2024
Baseline Partners Provides $10.08M Acquisition Loan For Charlotte Multifamily Portfolio
2336 Julia Avenue, Charlotte, North Carolina 28206, United States
$10,080,000
Units
104
Asset Type
MultiFamily
Closing
Jun 9, 2022
About this deal
AI
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
Charlotte 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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93