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Asset Snapshot
Investment Highlights
Offering Summary
Brokered by JLL and powered by RealINSIGHT Marketplace, 32 Cook Avenue is offered as a performing first-lien note secured by a 70-unit multifamily property in Meriden, Connecticut. The loan carries an original principal balance of $6.992MM, a 3.520% fixed note rate and 360-month amortization, with a scheduled maturity of June 1, 2029. The loan is current, and no default, foreclosure, receivership or other enforcement action is presented. The collateral is a single four-story brick apartment building constructed in 1961 and thoroughly renovated in 2019, offering approximately 53,227 square feet and 62 parking spaces. The latest provided rent roll reports 64 of 70 units occupied, or 91.4%, across a mix of studio, one-, two- and three-bedroom units. Average contractual rent across occupied units is approximately $1,452 per month, ahead of the approximately $1,398 average reported listing rent. The offering gives buyers a senior position on a performing loan with roughly two and a half years of remaining term.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
