Updated Oct 29, 2024
Audubon Secures $71.5M Loan From Mesa West Capital For The Cooper Multifamily Community In Mount Pleasant, SC
331 Harbor Point Drive Mount Pleasant, South Carolina 29464, USA
$71,500,000
Units
344
Asset Type
MultiFamily
Closing
Jul 6, 2023
About this deal
AI
Mesa West Capital has provided a $71.5 million first mortgage loan to Audubon, a real estate investment firm based in Atlanta, for The Cooper, a 344-unit multifamily community located at 331 Harbor Pointe Drive in Mount Pleasant, SC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $71,500,000
- Units: 344
- Market: Mt Pleasant, SC
The lending was facilitated by Mesa West Capital, while the real estate firm Audubon was the borrower. The loan was arranged by Richard Jordan from CBRE.
Players
Mount Pleasant 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93