Updated Dec 21, 2023
Northmarq Brokers Arrange $14M Refinance Loan For Multifamily Property In Richmond, VA
700 Everett Street, Richmond, Virginia 23224, United States
$14,000,000
Units
139
Asset Type
MultiFamily
Closing
Oct 4, 2022
About this deal
AI
A multifamily property located at 700 Everett St in Richmond, VA has undergone a loan refinance transaction. The property consists of 139 units and was involved in a loan deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Loan Type: Refinance
- Loan Terms: Permanent-fixed loan with a 10-year interest-only term followed by a 30-year amortization schedule
The loan for this property was facilitated by Reina Mazicioglu and Hunter Wood from Northmarq. They acted as the brokers in this deal, representing the parties involved in the loan transaction. The loan amount of $14,000,000 was secured for the refinance, providing the property owner with a more favorable loan arrangement.
On the Map
$14,000,000
MultiFamily
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Players
Richmond 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93