Updated Jan 7, 2025
Nimes Real Estate Secures $13.725 Million Refinance Loan For Multifamily Property In Matthews NC
4313 Margaret Wallace Road
$13,725,000
$109/SF
Building Size
125,000 SF
Asset Type
MultiFamily
Closing
Dec 30, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 4313 Margaret Wallace Road in Matthews, NC. The asset encompasses a total square footage of 125,000 and consists of 74 units, reflecting its capacity for accommodating residents.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,725,000
- Lender: Fannie Mae
- Landlord: Nimes Real Estate
- Loan Type: Refinance
- Loan Terms: 5yr Term | Full Term IO | 5.46% All-in Rate | 65% LTV
- Brokers: Ricky Warner, Henry Stimler & William Weber - Newmark
This transaction was facilitated by brokers Ricky Warner, Henry Stimler, and William Weber, who represent Newmark. Their involvement underscores the collaboration between the firms during the refinancing process for the property.
Players
Matthews 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
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93