Manor Lake Development LLC Refinances Senior Housing In Gainesville, Georgia For $18.5M
FINANCED
$18,500,000
Georgia
See Similar DealsOther282,269 SF
Financed 12/02/2021
FINANCED
Manor Lake Development LLC Refinances Senior Housing In Gainesville, Georgia For $18.5M
2900 McEver Rd, Gainesville, Georgia, USA
See Similar DealsOther282,269 SF
Financed 12/02/2021
Summary
GEORGIA
Asset Type:Other
Price Per Square Foot:$65
Total Square Footage:282,269 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,500,000.00
Monthly NOI$123,333.33
Monthly Debt Service$116,932.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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