Updated Oct 28, 2024
Brian Walton & Jonathan Singer Secure $9M Refinance Loan For Norfolk Multifamily Property
1464 Gabriel Drive, Norfolk, VA, USA
$9,000,000
$102/SF
Building Size
87,500 SF
Asset Type
MultiFamily
Closing
Oct 18, 2021
About this deal
AI
Located at 1464 Gabriel Drive in Norfolk, Virginia, this multifamily property consists of 100 units with a total square footage of 87,500. The property was refinanced on October 18, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Lender: greystone''>Greystone.RealEstate
- Loan Type: Refinance
- Loan Terms: Rate- 2.75%, 80% LTV, 5 Years IO
The loan for this property was provided by Brian Walton from Greystone.RealEstate. The loan amount was $9,000,000, with a refinance loan type and terms including a rate of 2.75%, 80% loan-to-value ratio, and 5 years interest-only. Jonathan Singer from Strategic Funding acted as the broker in this transaction.
On the Map
$9,000,000
$102/SF
MultiFamily
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Players
Norfolk 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93