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Tower Capital Refinances $19.1M Loan For Multifamily Development In Indian Trail
FINANCED
$19,149,000
North Carolina
See Similar DealsMultiFamily
Financed 05/22/2024
FINANCED
Tower Capital Refinances $19.1M Loan For Multifamily Development In Indian Trail
857 Tyler Matthew Lane
See Similar DealsMultiFamily
Financed 05/22/2024
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,149,000.00
Monthly NOI$127,660.00
Monthly Debt Service$121,034.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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