(To read more on the debt and equity markets, click here and to read more on the multifamily market, click here.)
EDGEWOOD, MD-Multi-Properties Inc will take title to Edgewood Park Apartments through a $6-million financing deal. Edgewood Park Associates LP was the seller.
Meridian Capital's Matthew Texler and Jacob Katz helped secure the funding, which came in the form of a loan with a 5.6% interest over a 10-year term, from an unidentified lender. Developed in 1967, Edgewood Park sits within close proximity to I-95 at 611 Edgewood Rd.
The garden-style multifamily community consists of 12 three-story structures on a 44-acre parcel. The exact purchase price of the complex has not been disclosed; however, the 132-unit property, according to Harford County real estate records, has a current assessed value of about $1.3 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
