Updated Dec 19, 2024
Rhine Legacy Capital Provides $6.5 Million Bridge Loan In Kane County For Flex Asset
$6,500,000
$49/SF
Building Size
131,000 SF
Asset Type
Industrial
Closing
Jan 4, 2023
About this deal
AI
The asset involved in this transaction is a Flex property located in Kane County, encompassing a total square footage of 131,000. The loan amount secured against this asset is $6,500,000, structured as a Bridge Loan. The loan was successfully closed in a timeframe of 9 business days.
Summary of transaction details:
- Property Type: Flex
- Transaction Amount: $6,500,000
- Loan Type: Bridge Loan
- Loan Terms: File Closed in 9 Business Days
- Lender: Rhine Legacy Capital - Samuel Kwadrat
- Market: Kane County
- Asset Square Footage: 131,000
The key individual representing the lender in this transaction is Samuel Kwadrat from Rhine Legacy Capital, which is noted as a nationwide CRE bridge lender. Their involvement facilitated the loan process and ensured a swift completion.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93