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The Preiss Company Secures $48M Acquisition Loan For Multifamily Property In Raleigh

2805 Par Drive
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This MultiFamily property located in NC received a loan of $48,000,000 over 2 years ago. The brokers of the deal were Josh Davis and Chris Caison

The multifamily property located at 2805 Par Dr in Raleigh, NC has been involved in a recent loan transaction. The property sits on approximately 28 acres of land and consists of 265 units. The loan amount for this acquisition is $48,000,000, obtained through a five-year floating-rate loan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $48,000,000
  • Address: 2805 Par Dr, Raleigh, NC
  • Market: Raleigh, NC
  • Acres: 28
  • Units: 265

The lender for this loan transaction is Mesa West Capital, with Russell Frahm and Pamir Niaz representing the lender. The Preiss Company is the landlord of the property. The brokers involved in this deal are Josh Davis and Chris Caison from Newmark.

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Deals
  • Location
    Par Drive, Raleigh, North Carolina 27603, United StatesPar Drive, Raleigh, North Carolina 27603, United States
  • Loan Value
    $48,000,000$48,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Josh Davis

Josh Davis

Deals3
Financed$165.1M

Chris Caison

Chris Caison

Deals3
Financed$165.1M

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

Deal Summary

LOAN IMAGE: Josh Davis, Chris Caison & Russell Frahm DATE: 12/06/2021 ADDRESS: 2805 Par Dr MARKET: Raleigh, NC ASSET TYPE: Multifamily ~ ACRES: 28 ~ UNITS: 265 LENDER: Mesa West Capital - Russell Frahm & Pamir Niaz LANDLORD: The Preiss Company BROKERS: Josh Davis & Chris Caison - Newmark LOAN AMOUNT: $48,000,000 LOAN TYPE: Acquisition LOAN TERMS: five-year, floating-rate loan

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2805 Par Drive

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