Silverstone Properties Acquires 228-Unit Multifamily In Philadelphia For $24.7M
FINANCED
$24,750,000
Pennsylvania
See Similar DealsMultiFamily
Financed 01/21/2022
FINANCED
Silverstone Properties Acquires 228-Unit Multifamily In Philadelphia For $24.7M
549 Manheim St, Philadelphia, PA 19144
See Similar DealsMultiFamily
Financed 01/21/2022
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Loan
Silverstone Properties has acquired a multifamily property located at 549 Manheim St in Philadelphia. The property consists of 228 units and was purchased through an acquisition loan. The loan amount for this transaction was $24,750,000, with a seven-year term and three years of interest-only payments.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,750,000
- Address: 549 Manheim St, Philadelphia
- Market: Philadelphia
- Units: 228
- Landlord: Silverstone Properties
- Brokers: Max Gejerman & Andrew Liebhard - Meridian Capital Group
Max Gejerman and Andrew Liebhard from Meridian Capital Group represented the buyer, Silverstone Properties, in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,750,000.00
Monthly NOI$165,000.00
Monthly Debt Service$156,436.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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