Updated Oct 29, 2024
JLL Capital Markets Secures $21.8M Bridge Financing For Granby Oaks Apartments
800 State Street West Columbia, SC 29169, USA
$21,800,000
Units
148
Asset Type
MultiFamily
Closing
Aug 30, 2023
About this deal
AI
JLL Capital Markets has arranged $21.8 million in bridge financing for Granby Oaks Apartments, a 148-unit multifamily apartment community located at 800 State Street in West Columbia, South Carolina. The property is owned by PAM Associates LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,800,000
- Units: 148
- Lender: MF1 Capital
- Brokers: Edward Smith, Gerard Quinn, Michael Mataras, Thomas E. Didio Jr - JLL
The loan, secured by JLL Capital Markets, will provide bridge financing for the Granby Oaks Apartments. The apartment community is situated in the West Columbia market, offering a prime location for residents. The financing arrangement was facilitated by the brokers Edward Smith, Gerard Quinn, Michael Mataras, and Thomas E. Didio Jr from JLL.
On the Map
$21,800,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93