Washington Property Company Secures $34.3M Acquisition Loan For Multifamily Property On S Reynolds St In Alexandria, VA
FINANCED
$34,340,000
Virginia
See Similar DealsMultiFamily
Financed 12/21/2021
FINANCED
Washington Property Company Secures $34.3M Acquisition Loan For Multifamily Property On S Reynolds St In Alexandria, VA
100 South Reynolds Street, Alexandria, Virginia 22304, United States
See Similar DealsMultiFamily
Financed 12/21/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 100 S Reynolds St in Alexandria, VA has undergone a recent transaction. The property consists of 227 units and belongs to the landlord, Washington Property Company. The deal was facilitated by brokers Jimmy Conley and Drake Greer from JLL Capital Markets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,340,000
- Loan Type: Acquisition
- Loan Term: Three-year, floating-rate, non-recourse, bridge loan with one-year extensions
The loan amount for this transaction was $34,340,000. The loan type was an acquisition loan, and it had a three-year term with the option for one-year extensions. It was a floating-rate loan and offered non-recourse financing.
Jimmy Conley and Drake Greer from JLL Capital Markets served as the brokers representing the buyer and seller in this transaction.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,340,000.00
Monthly NOI$228,933.33
Monthly Debt Service$217,052.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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