News: Financial Digest
Posted: January 9, 2008
Southbourne Group places $1.305 million in multifamily loans
Bob Pieper of the Southbourne Group recently placed $1.305 million in first lien permanent financing for the refinance of 2 multifamily properties located in Portland, and Bath, Maine. The Portland property consists of 2 buildings containing 18 residential units.
The Bath property consists of 6 buildings containing 24 residential units.
"The property locations in Bath and downtown Portland are excellent and at the termination of the loan terms there's no doubt that the properties will be developed as condominiums." said Bob Pieper of the Southbourne Group.
The owners wanted non-recourse 10 year fixed loan terms with an amortization of 30 years. "They got what they wanted and the interest rate was in the mid 6's" said Pieper.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Quick Hits
Columns and Thought Leadership
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.