Updated Oct 28, 2024
National Management LLC Refinances Multifamily Portfolio In Wausau, WI For $20.2M
1901 North 10th Avenue, Wausau, WI, USA
$20,215,000
Units
324
Asset Type
MultiFamily
Closing
Jun 30, 2021
About this deal
AI
A 324-unit multifamily portfolio located at 1901-1930 North 10th Avenue, 1408-1512 Metro Drive, and 1630-1660 W Evergreen Drive in Wausau, Schofield & Appleton, WI has been refinanced through a loan provided by PGIM. The loan amount for this transaction is $20,215,000, with a 10-year fixed rate term of 3.17%. Notably, the loan features full term interest only payments.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $20,215,000
- Loan Type: Refinance
- Lender: PGIM
- Landlord: National Management LLC
- Broker: Scott Modelski - Black Bear Capital Partners
Scott Modelski, representing Black Bear Capital Partners, played a vital role in facilitating this loan transaction. National Management LLC serves as the landlord for the multifamily portfolio in question.
Wausau 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
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93