Associated Bank Provides $6M Construction Loan For Senior Housing Development In Peru, Illinois
927 Wenzel Road, Peru, Illinois 61354, United States
$6,000,000
Units
56
Asset Type
—
Closing
Aug 3, 2022
About this deal
AI
The senior housing property located at 927 Wenzel Road in Peru, Illinois has undergone a closed transaction. This property consists of 56 units and was the subject of a construction loan.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $6,000,000
- Address: 927 Wenzel Road, Peru, Illinois
- Market: Peru, Illinois
- Lender: Associated Bank - Teresa Rubio
- Landlord: 3 Diamond Development
- Loan Type: Construction Loan
Teresa Rubio from Associated Bank served as the lender for this transaction. 3 Diamond Development acted as the landlord. The construction loan for $6,000,000 was secured to support the development of this senior housing property.
Players
Peru CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93