NewPoint Real Estate Capital Provides $61M Bridge Loan For Multifamily Property In Chester Springs, PA
FINANCED
$61,000,000
Pennsylvania
See Similar DealsMultiFamily2,580 SF
Financed 06/16/2022
FINANCED
NewPoint Real Estate Capital Provides $61M Bridge Loan For Multifamily Property In Chester Springs, PA
240 Windgate Drive, Chester Springs, Pennsylvania 19425, United States
See Similar DealsMultiFamily2,580 SF
Financed 06/16/2022
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$23,643
Total Square Footage:2,580 SF
Transaction Type:Loan
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.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$61,000,000.00
Monthly NOI$406,666.67
Monthly Debt Service$385,561.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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