Greystone Refinances Multifamily Property In Newport News, VA For $9.5M
FINANCED
$9,511,000
Virginia
See Similar DealsMultiFamily95,894 SF
Financed 10/18/2021
FINANCED
Greystone Refinances Multifamily Property In Newport News, VA For $9.5M
537 Bellwood Rd, Newport News, VA, USA
See Similar DealsMultiFamily95,894 SF
Financed 10/18/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Price Per Square Foot:$99
Total Square Footage:95,894 SF
Transaction Type:Loan
The property involved in this closed transaction is a multifamily asset located at 537 Bellwood Rd. in Newport News, VA. The property has a total square footage of 95,894 and consists of 134 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,511,000
- Market: Newport News, VA
The lender for this transaction was greystone''>Greystone, represented by Brian Walton. The loan amount for the refinance was $9,511,000. The loan terms include a 10-year term with a 2.74% interest rate. There is an initial interest-only period of 4 years.
The brokers involved in this deal were Jonathan Singer from Strategic Funding and Brian Walton from Greystone.
Players
BROKERAGE
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,511,000.00
Monthly NOI$63,406.67
Monthly Debt Service$60,115.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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