Updated Oct 28, 2024
Bank Rhode Island Provides $2.4M Refinance Loan For Touchdown Realty Group's East Greenwich Apartment
319 Main Street, East Greenwich, Rhode Island 02818, United States
$2,400,000
Units
10
Asset Type
MultiFamily
Closing
Apr 7, 2022
About this deal
AI
Ten units in an apartment building located at 319 Main St in East Greenwich, RI have recently undergone a refinancing transaction. The property, owned by Touchdown Realty Group, LLC, was subject to a loan provided by Bank Rhode Island and facilitated by Andrew Deluski. The loan amount for this refinancing deal was $2,400,000.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $2,400,000
- Address: 319 Main St
- Market: East Greenwich, RI
- Loan Type: Refinance
Andrew Deluski, representing Bank Rhode Island, assisted in securing the refinancing loan for this property asset. Touchdown Realty Group, LLC, serves as the landlord for the apartment building located at 319 Main St in East Greenwich, RI.
Players
East Greenwich 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93