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2280, 2250, 2265, 2295 Lafa...

Laub Realty Secures $19.26M Loan For Sullivan Parke Apartment Complex In Forks Township
FINANCEDMultiFamily

Laub Realty Secures $19.26M Loan For Sullivan Parke Apartment Complex In Forks Township

$19,260,000

Building Size

Asset Type

MultiFamily

Closing

Nov 15, 2023

AI

The Sullivan Parke Apartment Complex in Forks Township, PA has recently undergone a loan transaction. The complex consists of four buildings located at 2280, 2250, 2265, and 2295 Lafayette Park Drive, and offers a total of 102 multifamily units. Laub Realty is the landlord of the property.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $19,260,000
  • Loan Terms: The loan amount for the Sullivan Parke Apartment Complex is divided among the four buildings: Building 1 - $4,200,000, Building 2 - $4,200,000, Building 3 - $5,460,000, and Building 4 - $5,400,000.
  • Market: Forks Township, PA

The loan for the Sullivan Parke Apartment Complex was facilitated by Bryan Manz, Emil DePasquale, Brandon Harris, and George Pektor of Black Bear Capital Partners. They represented the landlord, Laub Realty, in the transaction.

Players

Emil DePasquale

Black Bear Capital Partners

Broker

$2.2B

vol

92 deals

Broker
Laub Realty
Laub RealtyLandlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.82%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93