Updated Dec 4, 2024
Dwight Mortgage Capital Provides $23.6M Loan For Prairie Home Apartments In Vancouver, WA
12101 Northeast 116th Street
$23,600,000
Units
120
Asset Type
MultiFamily
Closing
Sep 26, 2023
About this deal
AI
Dwight Mortgage Capital has provided $23.6 million in financing for the Prairie Home Apartments, a 120-unit multifamily property located at 12101 Northeast 116th Street in Vancouver, Washington. The loan was secured by the landlord, RRC Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,600,000
- Units: 120
- Lender: Dwight Mortgage Capital
- Broker: McBride Capital - Ken McBride & Matt McBride
This financing deal marks the involvement of Dwight Mortgage Capital in providing a significant loan amount to support the acquisition of the Prairie Home Apartments in Vancouver, Washington. The brokers, Ken McBride and Matt McBride from McBride Capital, played a crucial role in facilitating the transaction as representatives of the landlord, RRC Group.
Players
Vancouver 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93