Updated Nov 28, 2024
Santander Bank Provides $49M Loan For Multifamily Property At 500 E Main St In Durham, NC
500 East Main Street, Durham, North Carolina 27701, United States
$49,000,000
Units
248
Asset Type
MultiFamily
Closing
Jun 8, 2022
About this deal
AI
The multifamily property located at 500 E Main St in Durham, NC has been involved in a loan transaction. The property consists of 248 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,000,000
- Lender: Santander Bank
- Landlord: ZOM Living & AEW Capital Management
Santander Bank provided a loan amount of $49,000,000 for the multifamily property at 500 E Main St. The landlord of the property is ZOM Living & AEW Capital Management.
The multifamily loan at 500 East Main Street, Durham, North Carolina 27701, United States in Durham, North Carolina financed for $49M in 2022. Reported inventory is 248 units across 248 units. This page is the Durham, North Carolina file for the 500 East Main Street, Durham, North Carolina 27701, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Durham sit in the Market section below. Filter that Durham multifamily set by closing date to see what else financed near 500 East Main Street, Durham, North Carolina 27701, United States around 2022. Published consideration for 500 East Main Street, Durham, North Carolina 27701, United States is $49M, dated 2022. Cite this Santander Bank Provides $49M Loan For Multifamily Property At 500 E Main St In Durham, NC loan when underwriting similar multifamily product around Durham, North Carolina.
Players
Durham 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