Updated Oct 28, 2024
Bank Rhode Island Provides $10.5M Acquisition Loan For Multifamily Property On George M. Cohan Boulevard
180 George M. Cohan Boulevard, Providence, Rhode Island 02903, United States
$10,500,000
$204/SF
Building Size
51,373 SF
Asset Type
MultiFamily
Closing
Sep 15, 2022
About this deal
AI
An acquisition loan has been secured for a multifamily property located at 180 George M. Cohan Boulevard in Providence, RI. The property spans approximately 51,373 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,500,000
- Address: 180 George M. Cohan Boulevard, Providence, RI
- Market: Providence, RI
- Lender: Bank Rhode Island
- Landlord: 180 GMC, LLC
The acquisition loan, provided by Bank Rhode Island, has facilitated the purchase of the multifamily property located at 180 George M. Cohan Boulevard. 180 GMC, LLC serves as the landlord in this transaction.
Players
Providence 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93