Atlas Real Estate Partners Refinances Memphis Multifamily Property For $45M Loan
FINANCED
$45,000,000
+ 2
Tennessee
See Similar DealsMultiFamily791,605 SF
Financed 07/28/2022
FINANCED
Atlas Real Estate Partners Refinances Memphis Multifamily Property For $45M Loan
2774 South Mendenhall Road
See Similar DealsMultiFamily791,605 SF
Financed 07/28/2022
+ 2
Summary
TENNESSEE
Asset Type:MultiFamily
Price Per Square Foot:$56
Total Square Footage:791,605 SF
Transaction Type:Loan
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.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$45,000,000.00
Monthly NOI$300,000.00
Monthly Debt Service$284,430.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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