Updated Oct 28, 2024
Lument Provides $15.1M Acquisition Loan For Multifamily Property On Six Forks Rd, Raleigh, NC
6717 Six Forks Road, Raleigh, North Carolina 27615, United States
$15,100,000
Units
144
Asset Type
MultiFamily
Closing
Jan 10, 2022
About this deal
AI
The multifamily property located at 6717 Six Forks Rd in Raleigh, NC, was recently involved in a loan transaction. The property comprises 144 units and has been an attractive asset in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,100,000
- Address: 6717 Six Forks Rd, Raleigh, NC
- Market: Raleigh, NC
- Lender: lument''>Lument - James Kelly
Lument, represented by James Kelly, provided a loan amount of $15,100,000 for the acquisition of the multifamily property. The loan agreement includes a full-term interest-only period and a reverse 1031 structure. This financing arrangement aims to support the buyer's acquisition plans and maximize their investment potential.
Players
Raleigh 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
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93