Moneil Management Acquires 107-Unit Multifamily In Knoxville, TN With $10.8M Loan From Arbor Realty Trust
2701 Sevier Avenue, Knoxville, Tennessee 37920, United States
$10,800,000
$81/SF
Building Size
131,987 SF
Asset Type
MultiFamily
Closing
Nov 17, 2021
AI
The multifamily property located at 2701 Sevier Avenue in Knoxville, TN has been involved in a recent closed transaction. The property consists of 107 units and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,800,000
- Address: 2701 Sevier Avenue, Knoxville, TN
- Market: Knoxville, TN
- Lender: Arbor Realty Trust
- Landlord: Moneil Management - Vinney Chopra
- Brokers: Mark Krupenia & Barry Lefkowitz - Meridian Capital Group
The loan for the acquisition of the property was provided by Arbor Realty Trust. Moneil Management, represented by Vinney Chopra, acted as the landlord in the transaction. The brokers involved in the deal were Mark Krupenia and Barry Lefkowitz from the Meridian Capital Group.
Players
Knoxville 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93