The Preiss Company Acquires Multifamily Property On Oberlin Road In Raleigh For $49.7M
FINANCED
$49,700,000
North Carolina
See Similar DealsMultiFamily
Financed 12/06/2021
FINANCED
The Preiss Company Acquires Multifamily Property On Oberlin Road In Raleigh For $49.7M
305 Oberlin Road, Raleigh, North Carolina 27605, United States
See Similar DealsMultiFamily
Financed 12/06/2021
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The Preiss Company has acquired a multifamily property located at 305 Oberlin Road in Raleigh, NC. The property comprises 203 units and was purchased with a loan from Mesa West Capital. The loan amount for this acquisition is $49,700,000, secured through a five-year floating-rate loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $49,700,000
- Units: 203
- Lender: Mesa West Capital - Brian Hirsh
- Landlord: The Preiss Company
- Broker: Paul House - Walker & Dunlop
Brian Hirsh from Mesa West Capital provided the loan for this acquisition. Paul House from Walker & Dunlop represented the buyer, The Preiss Company, in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,700,000.00
Monthly NOI$331,333.33
Monthly Debt Service$314,137.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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