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We Lend LLC Provides $1.19M Acquisition Loan For Myrtle Beach Multifamily Property

Property Image
FINANCED
$1,193,000
Andrew Schnissel
Moses Suleymanov
Ruben Izgelov

South Carolina

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MultiFamily5,952 SF
Financed
the dealplayerscompscontact
Property Image
FINANCED

We Lend LLC Provides $1.19M Acquisition Loan For Myrtle Beach Multifamily Property

Myrtle Beach, South Carolina, United States

See Similar Deals
MultiFamily5,952 SF
Financed
Andrew Schnissel
Moses Suleymanov
Ruben Izgelov
the dealplayerscompscontact
Contact now

Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$200
Total Square Footage:5,952 SF
Transaction Type:Loan

A multifamily property in Myrtle Beach with a square footage of 5,952 and 14 units was recently involved in a closed transaction. The deal took place on 02/28/2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,193,000
  • Market: Myrtle Beach
  • Units: 14
  • Loan Type: Acquisition

The lender for this transaction was We Lend LLC. The loan amount provided by We Lend LLC was $1,193,000. The loan was specifically for the purpose of acquisition.

Notably, the loan program offered by We Lend LLC was designed for the conversion of hotels to Airbnb. The property in question is a multifamily asset with a value-add opportunity. The loan features an interest rate of 8.5%.

For any inquiries regarding loans, interested parties can reach out to Solomon Suleymanov at [email protected].

Players

Andrew Schnissel
We Lend
Andrew Schnissel
7 deals$20.9M volume
LENDER
Moses Suleymanov
We Lend
Moses Suleymanov
24 deals$44.4M volume
LENDER
Ruben Izgelov
We Lend
Ruben Izgelov
23 deals$43.6M volume
LENDER
We Lend
We Lend
LENDER
We Lend
We Lend
LENDER

Details

FINANCED
IMAGE: Ruben Izgelov, Solomon Suleymanov, Moses Suleymanov & Andrew Schnissel DATE: 02/28/2022 MARKET: Myrtle Beach ASSET TYPE: Multifamily ~ SF: 5,952 ~ UNITS: 14 LENDER: We Lend LLC (@WeLendLLC) - Solomon Suleymanov (@Sal_Solomons), Ruben Izgelov (@Ruben_Izgel), Moses Suleymanov (@Moses.Suley) & Andrew Schnissel LOAN AMOUNT: $1,193,000 LOAN TYPE: Acquisition NOTE FROM @WeLendLLC: Loan Amount: $1,193,000 Program: Hotel to Airbnb Type: Multifamily, Value-add Interest Rate: 8.5% Please reach out to Solomon Suleymanov at [email protected] for any loan inquiries.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,193,000.00

Monthly NOI$7,953.33
Monthly Debt Service$7,540.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00