Updated Oct 13, 2026
The Preiss Company Acquires Multifamily Property On Oberlin Road In Raleigh For $49.7M
305 Oberlin Road, Raleigh, North Carolina 27605, United States
$49,700,000
Units
203
Asset Type
MultiFamily
Closing
Dec 5, 2021
About this deal
AI
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.
On the Map
$49,700,000
MultiFamily
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Players
Raleigh 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93