Updated Dec 27, 2024
Elliott Properties Secures $13.9M Loan From Freddie Mac For Sedgefield Apartments In Winston-Salem
4755 Country Club Road
$13,900,000
Units
144
Asset Type
MultiFamily
Closing
Dec 24, 2024
About this deal
AI
The transaction involves Sedgefield Apartments, a multifamily property located at 4755 Country Club Road in Winston-Salem, NC. The asset comprises 144 units and was built in 1987. The community features amenities such as a pool, fitness center, and sports courts, with a loan amount of $13,900,000 facilitated by Freddie Mac.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $13,900,000
- Address: 4755 Country Club Road
- Market: Winston-Salem, NC
- Units: 144
- Lender: Freddie Mac
- Landlord: Elliott Properties
- Broker: Brendan Coleman & Adam Johnston - Walker & Dunlop
Walker & Dunlop played a crucial role in arranging the Freddie Mac loan for the property. The broker representatives involved in the deal were Brendan Coleman and Adam Johnston, who represented the interests of Elliott Properties as the landlord.
On the Map
$13,900,000
MultiFamily
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Winston Salem MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93