Dwight Capital Secures $19.5M HUD-Insured Loan For 69-Unit MultiFamily In Providence, RI
580 South Water
$19,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 12, 2023
AI
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.
Players
Providence MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93