Willard Street Apartments | Non-Performing Loan Sale
21 Willard Street, Hartford, CT, 06105, US
特性
Current Principal Balance
$4,400,000
Unpaid Principal Balance
$4,066,267
Maturity Date
June 2029
Origination Date
June 2022
單位數量
48
使用／出租率
91.67%
要約邀請
12/14/2026
描述
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $4.1 million non-performing multifamily loan (the “Loan”). The Loan is secured by a first-priority mortgage on 42 Johnson Street Apartments, a 48-unit, three-story multifamily property in Waterbury, Connecticut (the “Collateral” or the “Property”). The Property, constructed in 1920 and renovated in 2022, the 3-story office building is 95.8% occupied as of the rent roll dated February 2026 and situated on a 0.84-acre site. The property also benefits from onsite parking of 49 spaces.
Originated in June 2022, the Loan had an original principal balance of $4.4 million, included a fixed rate of 3.46% and matures in June 2029. The special servicer issued a notice of default in October 2024 and accelerated the Loan in May 2026. A foreclosure action is pending, and on August 26, 2026 the servicer filed an emergency motion to appoint a receiver. As of October 14, 2026, the Loan is non-performing with an unpaid principal balance of $4,066,267.39.
The offering presents investors with the opportunity to acquire a first-lien loan secured by a well-occupied multifamily property with and potential path to ownership.
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投資亮點
Value Add Opportunities
Average in-place rent for the Property are slightly lower compared to the average reported market rent, creating as significant opportunity to add value for potential investors.
Strong Submarket Fundamentals
The Properties are located in submarkets with strong multifamily fundamentals, including an average vacancy rate of approximately 6%.
Minimal Capital Needs
The Property is in good to fair condition with minimal immediate and short term repairs needed as well as roofs were replaced in 2022.
Potential Path to Ownership
The non-performing Loans provide investors with a potential path to title at a significant discount to replacement cost.
媒體
Johnson Street Apartments | Non-Performing Loan Sale (0 項物業)
