Updated Dec 4, 2024
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
About this deal
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.
On the Map
$19,149,000
MultiFamily
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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