Updated May 12, 2025
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
$22,300,000
MultiFamily
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Cary 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93