Beacon Real Estate Group Secures $36M Bridge Loan For Vinings At Laurel Creek Multifamily
FINANCED
$36,000,000
South Carolina
See Similar DealsMultiFamily1,362 SF
Financed 06/10/2020
FINANCED
Beacon Real Estate Group Secures $36M Bridge Loan For Vinings At Laurel Creek Multifamily
3434 Laurens Road, Greenville, SC 29607
See Similar DealsMultiFamily1,362 SF
Financed 06/10/2020
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$26,431
Total Square Footage:1,362 SF
Transaction Type:Loan
The Vinings at Laurel Creek, located at 3434 Laurens Rd in Greenville, SC, has recently been involved in a closed property transaction. The multifamily property was acquired by Beacon Real Estate Group.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $36,000,000
- Market: Greenville, SC
The loan for this acquisition was provided by CrossHarbor Capital Partners in the form of a bridge loan. The loan amount is $36,000,000. The loan terms include a sub-3.00% floating rate with full term interest only.
The brokers who facilitated this transaction were Michael Basinski, Scott Wadler, and Matthew Nihan from Berkadia Miami.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,000,000.00
Monthly NOI$240,000.00
Monthly Debt Service$227,544.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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