Updated May 14, 2026
Santander Bank Provides $27.4M Refinance Loan For Memphis Multifamily Property With Brokers Motti Blau & Mendy Pfeifer
1368 Winchester Road
$27,400,000
Units
438
Asset Type
MultiFamily
Closing
Mar 25, 2026
About this deal
AI
The asset involved in the transaction is a multifamily property located at 1368 Winchester Road in Memphis, TN. It consists of 438 units and has a cap rate of 5.55%. The loan amount secured for this property is $27,400,000, primarily for refinancing purposes with terms set at 5 years and 2 years of interest-only payments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,400,000
- Loan Type: Refinance
- Loan Terms: 5 Years, 2 Years IO
- Market: Memphis, TN
- Units: 438
- Cap Rate: 5.55%
- Lender: Santander Bank
- Broker: Motti Blau & Mendy Pfeifer - Eastern Union
Key individuals involved in the transaction include Motti Blau and Mendy Pfeifer, who represent the broker agency Eastern Union in facilitating this refinance loan from Santander Bank. Their expertise played a crucial role in the negotiations and execution of the deal.
On the Map
$27,400,000
MultiFamily
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Players
Memphis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93