Updated Dec 19, 2023
Northmarq Brokers Arrange $29M Loan For Multifamily Property At 5049 Western Blvd In Jacksonville, NC
5049 Western Boulevard, Jacksonville, North Carolina 28546, United States
$29,000,000
Units
324
Asset Type
MultiFamily
Closing
Jun 8, 2022
About this deal
AI
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
Jacksonville 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93