Updated Dec 4, 2024
Sheridan Capital Provides $21.25M Bridge Loan For Spartanburg Multifamily Property
408 Abner Road, Spartanburg, South Carolina 29301, United States
$21,250,000
Units
312
Asset Type
MultiFamily
Closing
Feb 27, 2022
About this deal
AI
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.
The multifamily loan at 408 Abner Road, Spartanburg, South Carolina 29301, United States in Spartanburg, South Carolina financed for $21.3M in 2022. Reported inventory is 312 units across 312 units. Joe Fishman, Sheridan Capital appear on the loan alongside Sheridan Capital. This page is the Spartanburg, South Carolina file for the 408 Abner Road, Spartanburg, South Carolina 29301, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Spartanburg sit in the Market section below. Filter that Spartanburg multifamily set by closing date to see what else financed near 408 Abner Road, Spartanburg, South Carolina 29301, United States around 2022. Published consideration for 408 Abner Road, Spartanburg, South Carolina 29301, United States is $21.3M, dated 2022. Cite this Sheridan Capital Provides $21.25M Bridge Loan For Spartanburg Multifamily Property loan when underwriting similar multifamily product around Spartanburg, South Carolina.
Players
Spartanburg 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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93