Updated Mar 4, 2026
Concordia Properties Secures $23.46M Bridge Loan For Multifamily Property In Hampton, Virginia
1601 Pennwood Drive
$23,460,000
$117/SF
Building Size
200,000 SF
Asset Type
MultiFamily
Closing
Dec 21, 2021
About this deal
AI
Concordia Properties, a landlord in Hampton, Virginia, recently secured a bridge loan for their multifamily property located at 1601 Penwood Dr. The property spans approximately 200,000 square feet and was listed by Steven Vegh from Westwood Realty Associates.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $23,460,000
- Loan Type: Bridge
This loan, amounting to $23,460,000, will assist Concordia Properties in their real estate endeavors. The bridge loan provides a temporary financing solution to bridge the gap between the purchase of the property and securing a long-term loan. This financial arrangement allows the landlord to take advantage of investment opportunities while having the flexibility to explore future financing options.
Players
Hampton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Steven Vegh to view all their deals.
Browse Hampton multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93