Brian Walton & Jonathan Singer Secure $9M Refinance Loan For Norfolk Multifamily Property
FINANCED
$9,000,000
Virginia
See Similar DealsMultiFamily87,500 SF
Financed 10/18/2021
FINANCED
Brian Walton & Jonathan Singer Secure $9M Refinance Loan For Norfolk Multifamily Property
1464 Gabriel Drive, Norfolk, VA, USA
See Similar DealsMultiFamily87,500 SF
Financed 10/18/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Price Per Square Foot:$102
Total Square Footage:87,500 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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