Updated Mar 11, 2025
Gindi Equities Acquires 224-Unit Multifamily Property In Chapel Hill, NC For $30.3M Loan
2701 Homestead Rd, Chapel Hill, NC, USA
$30,300,000
$32,510/SF
Building Size
932 SF
Asset Type
MultiFamily
Closing
Nov 11, 2021
About this deal
AI
The multifamily property located at 2701 Homestead Rd in Chapel Hill, NC has been involved in a recent closed transaction. The property consists of 224 units and has been acquired by Gindi Equities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,300,000
- Address: 2701 Homestead Rd, Chapel Hill, NC
- Market: Chapel Hill, NC
- Units: 224
The loan for this acquisition was provided by Harbor Group International Commercial Funding, LLC. The loan amount is $30,300,000, and the loan terms are for a three-year period.
The brokers involved in this transaction were Blake Cohen, Mike Ryan, and Brian Linnihan from Cushman & Wakefield.
Players
Chapel Hill 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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93