Updated Dec 4, 2024
Walker & Dunlop Facilitates $135.3M HUD Loans For Rhode Island Multifamily Portfolio
Cranston, Rhode Island & Warwick, Rhode Island
$135,323,400
Building Size
—
Asset Type
MultiFamily
Closing
May 10, 2024
About this deal
AI
The Multifamily Portfolio in Cranston & Warwick, RI, owned by Kelly MacArthur Coates of Carpionato Group, was the subject of a loan transaction amounting to $135,323,400 facilitated by Chris Rumul of Walker & Dunlop. The loan involved six Rhode Island multifamily properties and was completed between October 2023 and February 2024, with the assistance of the U.S. Department of Housing and Urban Development (HUD).
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $135,323,400
- Address: Multifamily Portfolio
- Market: Cranston & Warwick, RI
- Landlord: Kelly MacArthur Coates - Carpionato Group
- Broker: Chris Rumul - Walker & Dunlop
Walker & Dunlop, in collaboration with HUD, played a significant role in securing the substantial loan amount for the multifamily properties, showcasing their expertise in facilitating real estate financing transactions. Chris Rumul's representation of the deal exemplifies the importance of key individuals and companies in successful property transactions, emphasizing the vital roles they play in the real estate market.
On the Map
$135,323,400
MultiFamily
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Players
Cranston 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93