Sheridan Capital Provides $21.25M Bridge Loan For Spartanburg Multifamily Property
FINANCED
$21,250,000
South Carolina
See Similar DealsMultiFamily
Financed
FINANCED
Sheridan Capital Provides $21.25M Bridge Loan For Spartanburg Multifamily Property
408 Abner Road, Spartanburg, South Carolina 29301, United States
See Similar DealsMultiFamily
Financed
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 408 Abner Rd in Spartanburg, SC has been involved in a closed transaction. This property consists of 312 units and was part of a loan deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,250,000
- Date: 02/28/2022
- Lender: Sheridan Capital
- Broker: Joe Fishman - FM Capital
Joe Fishman from FM Capital represented the parties involved in this loan transaction. The loan amount was $21,250,000, and it was a bridge loan type.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,250,000.00
Monthly NOI$141,666.67
Monthly Debt Service$134,314.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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