Joshua Bernard Of Bernard Financial Group Secures $7.5 Million Freddie Mac Loan For Lincoln Meadows In Dickinson ND
3472 4th Avenue East
$7,500,000
Units
203
Asset Type
MultiFamily
Closing
Nov 8, 2024
AI
The transaction involves Lincoln Meadows, a multifamily property consisting of 203 units located at 3472 4th Avenue East in Dickinson, ND. The loan secured for refinancing amounted to $7,500,000 and was facilitated through Freddie Mac, focusing on enhancing the financial terms for the landlord, Lincoln Meadows Owner LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,500,000
- Address: 3472 4th Avenue East
- Market: Dickinson, ND
- Lender: Freddie Mac
- Landlord: Lincoln Meadows Owner LLC
- Broker: Joshua Bernard - Bernard Financial Group
- Loan Type: Refinance
- Units: 203
Joshua Bernard, representing Bernard Financial Group, played a pivotal role in securing the loan for Lincoln Meadows. His expertise facilitated the refinancing process on behalf of the landlord, ensuring the smooth execution of the transaction.
Players
Dickinson MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93