Carolina Multifamily Investments Acquires Multifamily Property In North Charleston For $16.9M Loan
7749 Warsaw Road, North Charleston, SC, USA
$16,900,000
$2,771/SF
Building Size
6,098 SF
Asset Type
MultiFamily
Closing
Sep 29, 2021
AI
The multifamily property located at 7604-7749 Warsaw Road in North Charleston, South Carolina has recently undergone a closed transaction. The property consists of 145 units, making it a significant asset in the market.
Summary of transation details:
- Asset Type: Multifamily
- Number of Units: 145
- Lender: Electra Capital - Samuel J. Greenblatt
- Landlord: Carolina Multifamily Investments - Mike Butler
- Loan Amount: $16,900,000
- Loan Type: Bridge Loan
In this deal, Samuel J. Greenblatt from Electra Capital served as the lender, providing the bridge loan for the transaction. Mike Butler, representing Carolina Multifamily Investments, acted as the landlord in the transaction.
Players
North Charleston 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
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93