Updated Oct 28, 2024
Heartland Real Estate Partners Acquires Multifamily Property In Lockport For $49.8M
South Hilltop Lane, Staunton, Illinois 62088, United States
$49,800,000
Units
240
Asset Type
MultiFamily
Closing
May 10, 2022
About this deal
AI
The multifamily property located at 14158 S Hilltop Ln in Lockport has recently undergone a closed transaction. The property consists of 240 units and is owned by Heartland Real Estate Partners, represented by David Husman.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $49,800,000
- Loan Amount: $49,800,000
- Loan Terms: 35-year loan
- Lender: Dwight Capital
Dwight Capital served as the lender for this transaction, providing a 35-year loan in the amount of $49,800,000. Heartland Real Estate Partners, led by David Husman, secured the loan to facilitate the acquisition of the multifamily property on S Hilltop Ln in Lockport.
Players
Staunton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93