The Breeden Company Secures $81.3M Loan For 863-Unit Multifamily Property In Virginia Beach, VA
FINANCED
$81,300,000
Virginia
See Similar DealsMultiFamily
Financed 01/23/2023
FINANCED
The Breeden Company Secures $81.3M Loan For 863-Unit Multifamily Property In Virginia Beach, VA
2100 Westminister Lane
See Similar DealsMultiFamily
Financed 01/23/2023
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 2100 Westminster Lane in Virginia Beach, VA has been involved in a recent loan transaction. The property consists of 863 units and is owned by The Breeden Company.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $81,300,000
- Address: 2100 Westminster Lane, Virginia Beach, VA
- Market: Virginia Beach, VA
- Unit Count: 863
The loan for this property was provided in the amount of $81,300,000.
The deal was facilitated by the brokers Patrick McGlohn, Miles Drinkwalter, and Patrick Cunningham from Berkadia, who represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$81,300,000.00
Monthly NOI$542,000.00
Monthly Debt Service$513,871.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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