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1210 Pressley Road

Steven Vegh's Westwood Realty Associates Facilitates $63M Loan For Multifamily Property At 1210 Pressley Road, Charlotte, NC
FINANCEDMultiFamily

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

Steven Vegh

Westwood Realty Associates

Broker

$2.5B

vol

68 deals

Broker

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