FBRE Capital Acquires Multifamily Property In Harrisburg, PA For $27M With Brokers Thomas Fuchsman & Solomon Birnbaum
660 Boas St, Harrisburg, PA 17102, USA
$27,000,000
$101/SF
Building Size
267,000 SF
Asset Type
MultiFamily
Closing
May 5, 2020
AI
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.
Harrisburg 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93