Arbor Provides $24.8M Cash-out Refinance Loan For The Pointe At Myrtle Beach Multifamily
3815 Maypop Circle
$24,758,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 1, 2022
AI
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.
Players
Myrtle Beach 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93