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
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.
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