New Horizons Housing Refinances Multifamily Properties In Columbus, OH With $6.5M Loan From Peapack Gladstone Bank
FINANCED
$6,500,000
MultiFamily17,360 SF
Financed 03/16/2021
FINANCED
New Horizons Housing Refinances Multifamily Properties In Columbus, OH With $6.5M Loan From Peapack Gladstone Bank
525 East Town Street, Columbus, OH, USA
See Similar DealsMultiFamily17,360 SF
Financed 03/16/2021
Summary
OHIO
Asset Type:MultiFamily
Price Per Square Foot:$374
Total Square Footage:17,360 SF
Transaction Type:Loan
Peapack Gladstone Bank has provided a loan for the refinancing of a multifamily property located at 518 & 525 Town St. & 196-200 & 33 South Washington Ave. in Columbus, OH. The loan amount is $6,500,000 with a 7-year term and a fixed interest rate of 3.40%.
Summary of Transaction Details:
- Asset Type: Multifamily
- Lender: Peapack Gladstone Bank
- Landlord: New Horizons Housing
- Broker: Emil DePasquale - BlackBear Capital Partners
- Loan Type: Refinance
- Loan Amount: $6,500,000
- Loan Terms: 7-year term with a fixed interest rate of 3.40%
The loan was facilitated by broker Emil DePasquale from BlackBear Capital Partners, representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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