Capstone Companies Brokers $5.5M Bridge Loan For Greensboro Multifamily
503 South O'Henry Boulevard
$5,500,000
$55/SF
Building Size
99,760 SF
Asset Type
MultiFamily
Closing
Oct 17, 2023
AI
A bridge loan in the amount of $5,500,000 was secured for a multifamily property located at 503 South O'Henry Boulevard in Greensboro, NC. The property spans a total square footage of 99,760 and consists of 116 units. The loan was provided by Wickenden Partners, with Cyrus Mojdehi and Danny Hirschberg representing the lender. The borrower is Wynnefield Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 503 South O'Henry Boulevard, Greensboro, NC
- Market: Greensboro, NC
- Square Footage: 99,760
- Units: 116
Ron Corrao from Capstone Companies and Eric Liebich acted as the brokers in the deal, representing the buyer or seller. They facilitated the transaction on behalf of the involved parties.
Players
Greensboro 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93