Updated Oct 28, 2024
NewPoint Real Estate Capital Provides $61M Bridge Loan For Multifamily Property In Chester Springs, PA
240 Windgate Drive, Chester Springs, Pennsylvania 19425, United States
$61,000,000
$23,643/SF
Building Size
2,580 SF
Asset Type
MultiFamily
Closing
Jun 15, 2022
About this deal
AI
The multifamily property located at 240 Windgate Drive in Chester Springs, PA has been involved in a closed transaction. The property consists of 172 units and is situated in the market of Chester Springs.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Address: 240 Windgate Drive, Chester Springs, PA
- Market: Chester Springs, PA
- Units: 172
The lender for this transaction was NewPoint Real Estate Capital, while Rose Valley Capital acted as the landlord. The brokers involved in the deal were Morris Betesh and Alex Bailkin from Meridian Capital Group.
This bridge loan was provided by NewPoint Real Estate Capital, enabling the transaction to proceed smoothly.
On the Map
$61,000,000
$23,643/SF
MultiFamily
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Players
West Vincent Township 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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93