Marcus & Millichap Capital Corporation Facilitates $3.3M Acquisition Loan For Office Property In New London, CT
FINANCED
$3,300,000
Connecticut
See Similar DealsOffice35,756 SF
Financed 09/26/2022
FINANCED
Marcus & Millichap Capital Corporation Facilitates $3.3M Acquisition Loan For Office Property In New London, CT
400 Bayonet Street, New London, Connecticut 06320, United States
See Similar DealsOffice35,756 SF
Financed 09/26/2022
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$92
Total Square Footage:35,756 SF
Transaction Type:Loan
The property involved in this transaction is an office building located at 400 Bayonet Street in New London, CT. The property has a total square footage of 35,756. The transaction took place on September 26, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,300,000
- Loan Type: Acquisition loan
- Loan Terms: The 10-year fixed loan has a 4.75 percent interest rate, 30-year amortization, and a 75% LTV.
The broker involved in this transaction is Robert Damigella from Marcus & Millichap Capital Corporation. He represented the buyer in securing a $3,300,000 acquisition loan for the office property. The loan has a 10-year fixed term with a 4.75 percent interest rate and a 30-year amortization period. The loan-to-value ratio is 75%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,300,000.00
Monthly NOI$22,000.00
Monthly Debt Service$20,858.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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