Steven Vegh's Westwood Realty Associates Facilitates $63M Loan For Multifamily Property At 1210 Pressley Road, Charlotte, NC
1210 Pressley Road
$63,000,000
$194/SF
Building Size
323,480 SF
Asset Type
MultiFamily
Closing
Nov 9, 2022
AI
Westwood Realty Associates broker, Steven Vegh, facilitated the acquisition loan for a multifamily property located at 1210 Pressley Road in Charlotte, NC. The property spans a total square footage of 323,480 and consists of 504 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Address: 1210 Pressley Road
- Market: Charlotte, NC
- Broker: Steven Vegh - Westwood Realty Associates
The loan, valued at $63,000,000, was specifically utilized for the purpose of acquisition. This deal was made possible through the efforts of Steven Vegh from Westwood Realty Associates, who represented the parties involved in the transaction.
Players
Charlotte 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93