Tower Capital Refinances $19.1M Loan For Multifamily Development In Indian Trail
857 Tyler Matthew Lane
$19,149,000
Units
268
Asset Type
MultiFamily
Closing
May 22, 2024
AI
Located at 857 Tyler Matthew Lane in Indian Trail, NC, the asset involved in this transaction is a multifamily property consisting of 99 townhomes in Phase 1 of Poplin Glen. The loan amount for this refinance deal amounts to $19,149,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $19,149,000
- Address: 857 Tyler Matthew Lane
- Market: Indian Trail, NC
Kyle McDonough from Tower Capital played a crucial role in facilitating the $19,149,000 loan for the refinance of the townhomes in Poplin Glen. This transaction is part of a 268-unit Build-to-Rent (BTR) development located in Charlotte, North Carolina.
Players
Indian Trail 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93