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921 Southeast Maynard Road

Updated May 12, 2025

Victor Agusta & Jr. Of Bellwether Enterprise Originates $22.3M Construction Loan For Marigold Apartments In Cary NC
FINANCEDMultiFamily

Victor Agusta & Jr. Of Bellwether Enterprise Originates $22.3M Construction Loan For Marigold Apartments In Cary NC

921 Southeast Maynard Road

$22,300,000

Units

126

Asset Type

MultiFamily

Closing

Apr 15, 2025

About this deal

AI

The asset involved in this transaction is Marigold Apartments, a 126-unit multifamily housing project located at 921 Southeast Maynard Road in Cary, NC. The loan originated for the construction of this mixed-income housing project amounts to $22,300,000 and is insured through HUD. The project is managed by Laurel Street Residential.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $22,300,000
  • Loan Type: Construction
  • Market: Cary, NC
  • Units: 126
  • Broker: Victor Agusta & Jr. - Bellwether Enterprise (BWE)

This transaction reflects the collaboration between key industry players, including the broker Victor Agusta & Jr. from Bellwether Enterprise, who facilitated the loan through BWE for the development of the Marigold Apartments project, handling the financing aspects related to the construction loan.

On the Map

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$22,300,000

MultiFamily

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Players

Victor Agusta, Jr.

Bellwether Enterprise (BWE)

Broker

$61.3M

vol

2 deals

Broker

Cary MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $177K per unit across 126 units on a published $22.3M (2025).

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Browse Cary multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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