FBRE Capital Acquires Multifamily Property In Harrisburg, PA For $27M With Brokers Thomas Fuchsman & Solomon Birnbaum
FINANCED
$27,000,000
Pennsylvania
See Similar DealsMultiFamily267,000 SF
Financed 05/06/2020
FINANCED
FBRE Capital Acquires Multifamily Property In Harrisburg, PA For $27M With Brokers Thomas Fuchsman & Solomon Birnbaum
660 Boas St, Harrisburg, PA 17102, USA
See Similar DealsMultiFamily267,000 SF
Financed 05/06/2020
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$101
Total Square Footage:267,000 SF
Transaction Type:Loan
A multifamily property located at 660 Boas Street in Harrisburg, PA has recently been involved in a closed transaction. The deal was facilitated by brokers Thomas Fuchsman and Solomon Birnbaum from FBRE Capital. The property consists of 360 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $27,000,000
- Loan Amount: $27,000,000
- Loan Terms: 2.77% Fixed Rate, 7 yr I/O
The transaction involved a loan amount of $27,000,000 with a fixed interest rate of 2.77% and a term of 7 years with interest-only payments. The term sheet for the deal was signed on March 4th and the transaction was closed on May 6th.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,000,000.00
Monthly NOI$180,000.00
Monthly Debt Service$170,658.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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