Meliorem Capital Acquires Tulsa Multifamily Portfolio With $10.5M Loan From Ready Capital
FINANCED
$10,523,500
Oklahoma
See Similar DealsMultiFamily134,985 SF
Financed 07/08/2022
FINANCED
Meliorem Capital Acquires Tulsa Multifamily Portfolio With $10.5M Loan From Ready Capital
4111 East 51st Street, Tulsa, Oklahoma 74135, United States
See Similar DealsMultiFamily134,985 SF
Financed 07/08/2022
Summary
OKLAHOMA
Asset Type:MultiFamily
Price Per Square Foot:$78
Total Square Footage:134,985 SF
Transaction Type:Loan
Located in Tulsa, OK, the multifamily property at 4111 E 51st Street and 3377 E Skelly Drive was recently involved in a closed transaction. This portfolio consists of 174 units, with a total square footage of 134,985.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,523,500
- LENDER: Ready Capital
- LANDLORD: Meliorem Capital
- BROKER: Zach Lutwak-Fitzgerald - Black Bear Capital Partners
The acquisition and renovation of this multifamily portfolio, comprising 174 units, was made possible through a 3-year floating rate loan provided by Ready Capital. The loan amount of $10,523,500 covered 75% loan-to-cost (LTC).
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,523,500.00
Monthly NOI$70,156.67
Monthly Debt Service$66,515.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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