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Dinerstein Cos Acquires Manor Six Forks Multifamily In Raleigh, NC With $59M Loan
FINANCED
$59,000,000
North Carolina
See Similar DealsMultiFamily
Financed 09/08/2023
FINANCED
Dinerstein Cos Acquires Manor Six Forks Multifamily In Raleigh, NC With $59M Loan
900 East Six Forks Road
See Similar DealsMultiFamily
Financed 09/08/2023
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The 298-unit Manor Six Forks apartment property in Raleigh, North Carolina has been acquired by Dinerstein Cos. for $74.3 million, with the support of a $59 million mortgage financing provided by Mesa West Capital. The multifamily property is located at 900 E Six Forks Rd in Raleigh, NC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $74.3 million
- Units: 298
- Lender: Mesa West Capital
- Landlord: Dinerstein Cos
- Loan Amount: $59,000,000
- Loan Type: Acquisition
- Loan Terms: Five-year loan
Mesa West Capital, represented by Brian Hirsh, has provided a $59 million mortgage financing to support Dinerstein Cos.' acquisition of the Manor Six Forks apartment property. The transaction marks an important milestone in the real estate market in Raleigh, NC, demonstrating continued investment and growth in the multifamily sector.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$59,000,000.00
Monthly NOI$393,333.33
Monthly Debt Service$372,920.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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