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Colliers Mortgage Refinances Spartanburg Multifamily Property For $8.9M
FINANCED
$8,900,000
South Carolina
See Similar DealsMultiFamily
Financed 05/06/2024
FINANCED
Colliers Mortgage Refinances Spartanburg Multifamily Property For $8.9M
515 Howard Street
See Similar DealsMultiFamily
Financed 05/06/2024
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The 47-unit Northside Townhomes in Spartanburg, SC has successfully secured an $8.9 million loan for refinancing. The property offers three-bedroom townhome residences and is located at 515 Howard Street.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,900,000
- Units: 47
- Lender: Bill Mattice & Phillip Cox - Colliers Mortgage
- Landlord: Spartanburg RE Investments LLC
- Loan Type: Refinance
Colliers Mortgage facilitated the $8.9 million loan for the Northside Townhomes in Spartanburg, SC, with Bill Mattice and Phillip Cox overseeing the loan, benefiting Spartanburg RE Investments LLC as the landlord.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,900,000.00
Monthly NOI$59,333.33
Monthly Debt Service$56,254.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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