NOVO Properties Secures $43M Construction Loan For Multifamily Project In Alexandria, VA
1200 North Henry Street, Alexandria, VA, USA
$43,000,000
$215/SF
Building Size
200,000 SF
Asset Type
MultiFamily
Closing
Oct 4, 2021
AI
The multifamily property located at 1200 North Henry Street in Alexandria, VA has undergone a closed transaction. The property consists of 119 units and is owned by NOVO Properties.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 1200 North Henry Street
- Market: Alexandria, VA
The loan for this transaction was provided by eaglebank''>EagleBank, with Ryan Riel as the representative. The loan type is a construction loan.
The brokers involved in this deal were Jon Goldstein, Wes Boatwright, and Mike Yavinsky, who are affiliated with Avison Young.
Players
Alexandria 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93