Carolina Multifamily Investments Acquires Multifamily Property In North Charleston For $16.9M Loan
FINANCED
$16,900,000
South Carolina
See Similar DealsMultiFamily6,098 SF
Financed 09/29/2021
FINANCED
Carolina Multifamily Investments Acquires Multifamily Property In North Charleston For $16.9M Loan
7749 Warsaw Road, North Charleston, SC, USA
See Similar DealsMultiFamily6,098 SF
Financed 09/29/2021
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$2,771
Total Square Footage:6,098 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,900,000.00
Monthly NOI$112,666.67
Monthly Debt Service$106,819.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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