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824 Martin Luther King Jr W...

Greystone Provides $15.75M Refinance Loan For 161-Unit Multifamily Property In Tacoma, WA
FINANCEDMultiFamily

Greystone Provides $15.75M Refinance Loan For 161-Unit Multifamily Property In Tacoma, WA

824 Martin Luther King Jr Way, Tacoma, Washington 98405, United States

$15,750,000

Building Size

Asset Type

MultiFamily

Closing

Apr 1, 2023

AI

The property involved in this closed transaction is a multifamily asset located at 824 Martin Luther King Junior Way in Tacoma, WA. The property consists of 161 units. The transaction involved a refinance loan provided by Greystone with a loan amount of $15,750,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,750,000
  • Address: 824 Martin Luther King Junior Way, Tacoma, WA
  • Market: Tacoma, WA
  • Units: 161
  • Lender: Greystone
  • Brokers: Dave Karson, Chris Moyer, Paul Roeter, John Spreitzer & Jason Blankfein - Cushman & Wakefield
  • Loan Type: Refinance

The deal was facilitated by the brokers from Cushman & Wakefield, namely Dave Karson, Chris Moyer, Paul Roeter, John Spreitzer, and Jason Blankfein.

Players

Chris Moyer

Cushman & Wakefield

Broker

$3.2B

vol

21 deals

Broker
Greystone
GreystoneBrokerage
Greystone
GreystoneLender

Tacoma 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

1.01%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93