Updated Oct 28, 2024
Kaufman Development Secures $59.8M Construction Loan For 158-Unit Multifamily In Columbus, Ohio
30 Price Avenue, Columbus, Ohio 43201, United States
$59,800,000
Units
158
Asset Type
MultiFamily
Closing
May 10, 2022
About this deal
AI
Located at 30 Price Avenue in Columbus, Ohio, this multifamily property consists of 158 units. The property is owned by Kaufman Development and was showcased in a recent Instagram post.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $59,800,000
- Loan Type: Construction Loan
- Loan Terms: Fixed interest rate and a three-year term
The deal was facilitated by brokers Jeff Morris, Chad Kiner, and A.J. Mangan from Walker & Dunlop Inc. They played a crucial role in securing the construction loan for the property on behalf of Kaufman Development.
NOTE: For more information about the property, please refer to the original Instagram post.Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93