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3472 4th Avenue East

Joshua Bernard Of Bernard Financial Group Secures $7.5 Million Freddie Mac Loan For Lincoln Meadows In Dickinson ND
FINANCEDMultiFamily

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:

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

Joshua Bernard

Bernard Financial Group

Broker

$116.5M

vol

13 deals

Broker
Freddie Mac
Freddie MacLender

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