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Dwight Capital Secures $19.5M HUD-Insured Loan For 69-Unit MultiFamily In Providence, RI
FINANCED
$19,500,000
Rhode Island
See Similar DealsMultiFamily
Financed 07/12/2023
FINANCED
Dwight Capital Secures $19.5M HUD-Insured Loan For 69-Unit MultiFamily In Providence, RI
580 South Water
See Similar DealsMultiFamily
Financed 07/12/2023
Summary
RHODE ISLAND
Asset Type:MultiFamily
Transaction Type:Loan
580 South Water, a 69-unit apartment complex in Providence, Rhode Island, has been refinanced by Dwight Capital. The property secured a $19.5 million HUD-insured loan through this transaction. Located in the thriving market of Providence, this multi-family asset offers a valuable investment opportunity.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $19,500,000
- Lender: Dwight Capital - Josh Hoffman & Jonathan Pomper
Dwight Capital, represented by Josh Hoffman & Jonathan Pomper, played a key role in facilitating the refinancing of 580 South Water. This loan transaction highlights the expertise and dedication of Dwight Capital in providing financing solutions for multi-family properties. With their involvement, 580 South Water is poised to continue its success in the Providence market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,500,000.00
Monthly NOI$130,000.00
Monthly Debt Service$123,253.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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