PGIM Real Estate Provides $63.2M Loan For Bourbonnais Mobile Home Park
FINANCED
$63,200,000
Illinois
See Similar DealsFinanced 04/21/2022
FINANCED
PGIM Real Estate Provides $63.2M Loan For Bourbonnais Mobile Home Park
43 E 5000n Rd, Bourbonnais, Illinois 60914, United States
See Similar DealsFinanced 04/21/2022
Summary
ILLINOIS
Transaction Type:Loan
A mobile home park located at 43 E 5000N Rd in Bourbonnais has recently been involved in a closed transaction. The property spans across approximately 157 acres, making it a significant asset in the market. The deal has attracted attention due to the involvement of several key players.
Summary of transaction details:
- Property Type: Mobile Home Park
- Transaction Amount: $63,200,000
- Date: 04/21/2022
- Address: 43 E 5000N Rd, Bourbonnais
- Market: Bourbonnais
- Asset Type: Mobile Home Park
- Acres: 157
The lender in this transaction is PGIM Real Estate, represented by Eric Adler. They have provided a loan amount of $63,200,000. The loan terms consist of a 10-year, fixed-rate structure with five years of interest-only payments. This arrangement is further followed by a 30-year amortization schedule.
Maverick Commercial Mortgage Inc acted as the broker for this deal, facilitating the transaction between the parties involved.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,200,000.00
Monthly NOI$421,333.33
Monthly Debt Service$399,466.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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