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Ken Goldenberg And Mark Caltabiano Of The Goldenberg Group Secure $285.5M Refinance Loan For Student Housing

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FINANCED
$285,500,000
Michael Ianno
Keith Kurland
+ 6

Pennsylvania

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Student Housing1,091,404 SF
Financed 07/09/2024
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FINANCED

Ken Goldenberg And Mark Caltabiano Of The Goldenberg Group Secure $285.5M Refinance Loan For Student Housing

1717 North 12th Street & 1100 West Montgomery Avenue

See Similar Deals
Student Housing1,091,404 SF
Financed 07/09/2024
Michael Ianno
Keith Kurland
+ 6
Contact now

Summary

PENNSYLVANIA
Asset Type:Student Housing
Price Per Square Foot:$261
Total Square Footage:1,091,404 SF
Transaction Type:Loan

The transaction involves the refinancing of a student housing asset located at Vantage - 1717 North 12th Street and The View at Montgomery - 1100 West Montgomery Avenue in Philadelphia, PA. The property comprises 606 units with a total of 1,816 beds and spans 545,702 square feet. The total loan amount for this refinancing deal is $285,500,000.

Summary of transaction details:

This refinancing deal features multiple brokers representing the transaction, all associated with Walker & Dunlop. The prominent participants in this transaction include notable brokers such as Aaron Appel and Jonathan Schwartz, among others, who are instrumental in facilitating this deal for the landlord, The Goldenberg Group.

Players

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Michael Ianno
Walker & Dunlop
51 deals$6B volume
BROKER

Sean Reimer
Walker & Dunlop
46 deals$9.4B volume(646) 221-6437
BROKER

Brendan Coleman
Walker & Dunlop
5 deals$631.7M volume(301) 215-5595
BROKER

Connor Locke
Walker & Dunlop
4 deals$617.8M volume(301) 215-5512
BROKER

Colin Coleman
Walker & Dunlop
1 deal$285.5M volume
BROKER

Walker & Dunlop
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Connor Locke, Adam Schwartz, Keith Kurland, Sean Reimer, Ken Goldenberg, Michael Ianno, Brendan Coleman, Colin Coleman, Mark Caltabiano & Jonathan Schwartz DATE: 07/09/2024 ADDRESS: Vantage - 1717 North 12th Street & The View at Montgomery - 1100 West Montgomery Avenue MARKET: Philadelphia, PA ASSET TYPE: Student Housing ~ UNITS: 606 Units ~ BEDS: 1,816 ~ SF: 545,702 LENDER: Freddie Mac (@FreddieMacCorp) & Walker Dunlop Investment Partners LANDLORD: Ken Goldenberg & Mark Caltabiano - The Goldenberg Group BROKERS: Aaron Appel, Jonathan Schwartz (@JSchwa1386), Adam Schwartz (@AdamSchwartz88), Keith Kurland (@KaKurland), Sean Reimer, Michael Ianno (@MIanno20), Brendan Coleman, Colin Coleman & Connor Locke - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $285,500,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$285,500,000.00

Monthly NOI$1,903,333.33
Monthly Debt Service$1,804,554.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00