Updated Mar 11, 2025
Sabal Capital Partners Provides $4.5M Permanent Loan For Multifamily Property In Lorain, Ohio
1235 Shaffer Drive, Lorain, OH 44053
$4,500,000
$382/SF
Building Size
11,761 SF
Asset Type
MultiFamily
Closing
Aug 13, 2021
About this deal
AI
A multifamily property located at 1235 Shaffer Dr in Lorain, Ohio has recently undergone a closed transaction. The property spans across 1,750,000 square feet and consists of 168 units. It is equipped with amenities such as a swimming pool and tennis court.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Lender: Sabal Capital Partners
- Broker: Noam Temchin & Jonathan Kramer - FM Capital
Noam Temchin and Jonathan Kramer from FM Capital represented the involved parties in this deal.
The loan obtained for this transaction was of a permanent type, with a loan amount of $4,500,000. The loan terms include a 10-year duration with full term interest only. The swimming pool and tennis court, along with the 168 units, were key factors in this loan agreement.
On the Map
$4,500,000
$382/SF
MultiFamily
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Players
Lorain 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93