Manor Lake Development LLC Refinances Senior Housing In Gainesville, Georgia For $18.5M
2900 McEver Rd, Gainesville, Georgia, USA
$18,500,000
$65/SF
Building Size
282,269 SF
Asset Type
Other
Closing
Dec 2, 2021
AI
Manor Lake Development LLC has refinanced their senior housing property located at 2900 McEver Rd in Gainesville, Georgia. The property consists of 88 units and was refinanced for an amount of $18,500,000. The loan obtained is a non-recourse, floating-rate loan.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $18,500,000
- Address: 2900 McEver Rd, Gainesville, Georgia
- Market: Gainesville, Georgia
- Units: 88
The refinancing of the senior housing property at 2900 McEver Rd was facilitated by Joel Mendes and Trent Niederberger from JLL Capital Markets. They represented Manor Lake Development LLC in the transaction.
Gainesville Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93