Updated Jun 17, 2025
Robert Budman Of The BLVD Group Acquires Rock Ridge Apartments In Woonsocket For $56.5M
121 Rock Ridge Drive
$56,500,000
Units
152
Asset Type
MultiFamily
Closing
Jun 13, 2025
About this deal
AI
The asset involved in the transaction is a multifamily property located at 121 Rock Ridge Drive in Woonsocket, RI. This project consists of 152 units. It was financed with a loan amount of $56,500,000 intended for acquisition purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,500,000
- Lender: Michael Dury - Merchants Capital
- Landlord: Robert Budman - The BLVD Group
- Loan Type: Acquisition
- Market: Woonsocket, RI
- Asset Units: 152
The financing was closed by Merchants Capital, which facilitated the acquisition and renovation of Rock Ridge Apartments for The BLVD Group. This loan supports the development of affordable housing in the specified area.
On the Map
$56,500,000
MultiFamily
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Woonsocket 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93