Updated Dec 4, 2024
Felix Gutnikov & Pearlmark Provide $30M Construction Loan For Link NoDa Apartments
315 East 36th Street
$30,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 25, 2024
About this deal
AI
The loan for the property located at 315 East 36th Street in Charlotte, NC, was secured in the amount of $30,000,000 for a construction project involving the Link NoDa apartment complex, developed by Grubb Properties.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Lender: Felix Gutnikov - Thorofare Capital & Pearlmark
- Landlord: Grubb Properties
- Loan Type: Construction
Thorofare Capital and Pearlmark have provided $40 million in financing to complete the second phase of the Link NoDa apartment complex in Charlotte, NC. Felix Gutnikov from Thorofare Capital and Pearlmark played a key role in securing the loan for this multifamily asset development.
Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93