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Joshua Bernard Of Bernard Financial Group Secures $7.5 Million Freddie Mac Loan For Lincoln Meadows In Dickinson ND
FINANCED
$7,500,000
North Dakota
See Similar DealsMultiFamily
Financed 11/08/2024
FINANCED
Joshua Bernard Of Bernard Financial Group Secures $7.5 Million Freddie Mac Loan For Lincoln Meadows In Dickinson ND
3472 4th Avenue East
See Similar DealsMultiFamily
Financed 11/08/2024
Summary
NORTH DAKOTA
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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