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
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