Bonaventure Acquires Multifamily Properties In Manassas And Virginia Beach For $85M Loan
FINANCED
$85,000,000
Virginia
See Similar DealsMultiFamily
Financed 11/18/2021
FINANCED
Bonaventure Acquires Multifamily Properties In Manassas And Virginia Beach For $85M Loan
9009 East Church Street, Manassas, VA, USA
See Similar DealsMultiFamily
Financed 11/18/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Loan
The recent closed property transaction involved a multifamily asset located at 9009 Church St and 5697 Magnolia Run Cir in Manassas and Virginia Beach, Virginia. The property comprises of 294 units, with 94 units in Messenger Place and 200 units in Magnolia Run.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Loan Type: Acquisition
- Lender: Fannie Mae & KeyBank
- Landlord: Bonaventure - Connor Reece
The loan for this transaction was provided by Fannie Mae and KeyBank. Bonaventure, represented by Connor Reece, acted as the landlord for this acquisition. The loan amount for the transaction was $85,000,000.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$85,000,000.00
Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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