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Felix Gutnikov & Pearlmark Provide $30M Construction Loan For Link NoDa Apartments
FINANCED
$30,000,000
North Carolina
See Similar DealsMultiFamily
Financed 03/25/2024
FINANCED
Felix Gutnikov & Pearlmark Provide $30M Construction Loan For Link NoDa Apartments
315 East 36th Street
See Similar DealsMultiFamily
Financed 03/25/2024
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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