Beau Hale Of Pine Peak Partners Provides $5.5M Refinance Loan For Chicago Parking Lot
FINANCED
$5,500,000
Illinois
See Similar DealsDevelopment Site11,325 SF
Financed 10/03/2024
FINANCED
Beau Hale Of Pine Peak Partners Provides $5.5M Refinance Loan For Chicago Parking Lot
51 East Van Buren Street
See Similar DealsDevelopment Site11,325 SF
Financed 10/03/2024
Summary
ILLINOIS
Asset Type:Development Site
Price Per Square Foot:$485
Total Square Footage:11,325 SF
Transaction Type:Loan
The property asset involved in this transaction is a parking lot located at 51 East Van Buren Street in the Chicago market. The asset has a square footage of 11,325. The transaction involves a refinance loan amounting to $5,500,000 with terms set for 18 months.
Summary of transaction details:
- Property Type: Parking Lot
- Transaction Amount: $5,500,000
- Loan Type: Refinance
- Loan Terms: 18 months
- Lender: Beau Hale - Pine Peak Partners
The key individual in this deal is Beau Hale, representing Pine Peak Partners as the lender for the refinancing of the property. This transaction is indicative of strategic financial management for the asset.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,500,000.00
Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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