Updated Sep 11, 2026
Atlas Real Estate Partners Refinances Memphis Multifamily Property For $45M Loan
2774 South Mendenhall Road
$45,000,000
$56/SF
Building Size
791,605 SF
Asset Type
MultiFamily
Closing
Jul 28, 2022
About this deal
AI
Located at 2774 S Mendenhall Rd in Memphis, Tennessee, this multifamily property spans a total of 791,605 square feet. Recently, Atlas Real Estate Partners, the landlord, secured a refinancing loan from Fannie Mae for $45,000,000. The loan was obtained after a successful value-add program, allowing for a permanent cash-out refinancing.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Loan Type: Refinance
- Lender: Fannie Mae
- Landlord: Atlas Real Estate Partners
- BROKERS:
- Mitch Sinberg - Berkadia
- Brad Williamson - Berkadia
- Matt Robbins - Berkadia
- Scott Wadler - Berkadia
- Mike Basinski - Berkadia
The team from Berkadia, including Mitch Sinberg, Brad Williamson, Matt Robbins, Scott Wadler, and Mike Basinski, played a crucial role in facilitating the refinancing deal.
On the Map
$45,000,000
$56/SF
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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93