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Z&G Property Group Acquires 72-Unit Multifamily Property In North Charleston With $4.75M Loan From Greystone

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FINANCED
$4,750,000

South Carolina

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MultiFamily1,100 SF
Financed 10/26/2021
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FINANCED

Z&G Property Group Acquires 72-Unit Multifamily Property In North Charleston With $4.75M Loan From Greystone

8101 Honeysuckle Lake Drive, North Charleston, SC 29420

See Similar Deals
MultiFamily1,100 SF
Financed 10/26/2021
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Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$4,318
Total Square Footage:1,100 SF
Transaction Type:Loan

The 72-unit multifamily property located at 8101 Honeysuckle Lake Drive in North Charleston, SC, known as Lakes at Pepperidge Apartments, was involved in a recent transaction. The asset is classified as a multifamily property with a total of 72 units.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $4,750,000
  • Loan Amount: $4,750,000
  • Loan Type: Equity
  • Lender: greystone''>Greystone
  • Landlord: Z+G Property Group
  • Brokers: Brandon Harris - BlackBearCapitalPartners
  • Loan Terms: The 72-unit multifamily property was financed with $1.32 million in soft preferred equity on a 6-year fixed term behind a $3,430,957 Fannie Mae senior loan, which was assumed, totaling $4.75 million.

The deal involved the lender, Greystone, providing financing for the transaction. The landlord, Z+G Property Group, was responsible for the property. The brokers involved in the deal were Brandon Harris from BlackBearCapitalPartners.

Players

Brandon Harris
73 deals$1.1B volume
BROKER

Greystone
LENDER

Details

FINANCED
IMAGE: Brandon Harris DATE: 10/26/2021 ADDRESS: 8101 Honeysuckle Lake Drive – Lakes at Pepperidge Apartments MARKET: North Charleston, SC ASSET TYPE: Multifamily ~ UNITS: 72 LENDER: Greystone LANDLORD: Z+G Property Group BROKERS: Brandon Harris - @BlackBearCapitalPartners LOAN AMOUNT: $4,750,000 LOAN TYPE: Equity LOAN TERMS: The 72-unit multifamily property was financed with $1.32million in soft preferred equity on a 6-year fixed term behind a $3,430,957 Fannie Mae senior loan, which was assumed, totaling $4.75 million.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,750,000.00

Monthly NOI$31,666.67
Monthly Debt Service$30,023.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00