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Northmarq Brokers Arrange $29M Loan For Multifamily Property At 5049 Western Blvd In Jacksonville, NC

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FINANCED
$29,000,000

North Carolina

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MultiFamily
Financed 06/09/2022
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Property Image
FINANCED

Northmarq Brokers Arrange $29M Loan For Multifamily Property At 5049 Western Blvd In Jacksonville, NC

5049 Western Boulevard, Jacksonville, North Carolina 28546, United States

See Similar Deals
MultiFamily
Financed 06/09/2022
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

An undisclosed multifamily property located at 5049 Western Blvd in Jacksonville, NC has recently been involved in a closed transaction. The property consists of 324 residential units. The transaction was facilitated by Bob Harrington and Paul Whalen from Northmarq, who represented the parties involved in the deal. The loan amount for this transaction was $29,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $29,000,000
  • Address: 5049 Western Blvd, Jacksonville, NC
  • Market: Jacksonville, NC
  • Units: 324

Bob Harrington and Paul Whalen, representing Northmarq, played vital roles in the successful completion of this transaction. Their expertise and negotiation skills contributed to the smooth process of acquiring the undisclosed multifamily property in Jacksonville, NC.

Players

Bobby (Bob) Harrington
2 deals$42.3M volume
BROKER

Paul Whalen
NorthMarq
2 deals$41.5M volume
BROKER

Details

FINANCED
IMAGE: Bob Harrington & Paul Whalen DATE: 06/09/2022 ADDRESS: 5049 Western Blvd MARKET: Jacksonville, NC ASSET TYPE: Multifamily ~ UNITS: 324 BROKERS: Bob Harrington & Paul Whalen - Northmarq LOAN AMOUNT: $29,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,000,000.00

Monthly NOI$193,333.33
Monthly Debt Service$183,299.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00