Arbor Provides $24.8M Cash-out Refinance Loan For The Pointe At Myrtle Beach Multifamily
FINANCED
$24,758,000
South Carolina
See Similar DealsMultiFamily
Financed 11/01/2022
FINANCED
Arbor Provides $24.8M Cash-out Refinance Loan For The Pointe At Myrtle Beach Multifamily
3815 Maypop Circle
See Similar DealsMultiFamily
Financed 11/01/2022
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The Pointe at Myrtle Beach, located at 3815 Maypop Circle in Myrtle Beach, SC, has recently undergone a cash-out refinance transaction. The multifamily property, owned by Loboda Properties and Michael Loboda, secured a loan amount of $24,758,000 through Arbor - Freddie Mac. This loan type allows the borrower to access the equity built in the property for other purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,758,000
- Lender: Arbor - Freddie Mac
- Landlord: Loboda Properties - Michael Loboda
- Loan Type: Cash-out Refinance
The involvement of Loboda Properties and Michael Loboda as the property's landlord highlights their role in securing the cash-out refinance loan. This transaction allows them to leverage the equity in The Pointe at Myrtle Beach for other real estate ventures or business purposes.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,758,000.00
Monthly NOI$165,053.33
Monthly Debt Service$156,487.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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