FINANCEDMultiFamily
Passive Investing Secures $58.5M Bridge Loan For Nashville Multifamily
2165 Nolensville Pk Nashville, TN 37211, USA
$58,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 15, 2022
AI
A bridge loan has been secured for a multifamily property located at 2165 Nolensville Pike in Nashville, TN. The property consists of 236 units and is owned by Passive Investing.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,500,000
- Loan Type: Bridge loan
The lender for this transaction is ACRE, while Ware Shipman from JLL served as the broker for the deal.
Players
Nashville-Davidson 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93