Black Bear Capital Partners Arranges $7M Refinance Loan For Next Gravity's Industrial Property On N Cherry Avenue, Chicago
FINANCED
$7,000,000
Illinois
See Similar DealsIndustrial40,000 SF
Financed 05/19/2023
FINANCED
Black Bear Capital Partners Arranges $7M Refinance Loan For Next Gravity's Industrial Property On N Cherry Avenue, Chicago
1350 N Cherry Ave Chicago, Il 60642, Usa
See Similar DealsIndustrial40,000 SF
Financed 05/19/2023
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$175
Total Square Footage:40,000 SF
Transaction Type:Loan
The industrial property located at 1350-60 N Cherry Avenue in Chicago, IL has recently undergone a refinancing transaction. The property spans 40,000 square feet and is owned by Next Gravity.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Loan Type: Refinance
- Loan Terms: The property was refinanced with a 5-year 5.75% fixed rate loan.
Black Bear Capital Partners represented Next Gravity in the refinancing deal. Scott Modelski, a broker from Black Bear Capital Partners, played an integral role in facilitating the transaction.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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