Updated Oct 28, 2024
Greystone Acquires Multifamily Property In Grand Forks, ND With $18.3M Loan
3750 Ruemmele Rd, Grand Forks, ND, USA
$18,320,000
$13,314/SF
Building Size
1,376 SF
Asset Type
MultiFamily
Closing
Jun 1, 2020
About this deal
AI
Located at 3750 Ruemmele Rd. in Grand Forks, ND, this multifamily property was recently involved in a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,320,000
- Address: 3750 Ruemmele Rd.
- Market: Grand Forks, ND
The lender for this transaction was greystone''>Greystone, represented by Dan Sacks & Ilan Bassali. The loan, which amounted to $18,320,000, included HUD 223(f) terms with a 35-year term and amortization. The loan also offered a low fixed rate.
The property is owned by the Northridge Group, and they have successfully secured this loan for their multifamily asset located at 3750 Ruemmele Rd. in Grand Forks, ND.
Players
Grand Forks 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93