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North Park Ventures Refinances MultiFamily Property In Evanston With $12.9M Loan From Fannie Mae

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FINANCED
$12,985,000

Illinois

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MultiFamily90,000 SF
Financed 08/31/2023
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FINANCED

North Park Ventures Refinances MultiFamily Property In Evanston With $12.9M Loan From Fannie Mae

2730 Hampton Pkwy Evanston, IL 60201, USA

See Similar Deals
MultiFamily90,000 SF
Financed 08/31/2023
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$144
Total Square Footage:90,000 SF
Transaction Type:Loan

The property involved in this loan transaction is located at 2730 Hampton Parkway in Evanston. It is a MultiFamily property consisting of 91 units and spanning across 90,000 square feet. The asset is owned by North Park Ventures, with Robert Sekula as the landlord. The property is situated in the Evanston market.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $12,985,000
  • Lender: Fannie Mae
  • Landlord: North Park Ventures - Robert Sekula
  • Broker: Michael Slovitt - Berkadia
  • Loan Type: Refinance
  • Loan Terms: 5.42% Fixed, 10 Years, 6 Years IO

In this loan transaction, Fannie Mae acted as the lender for the refinance. The broker representing this deal was Michael Slovitt from Berkadia. The loan amount for the refinance was $12,985,000, with a fixed interest rate of 5.42%. The loan terms span over a period of 10 years, with the first 6 years being interest-only.

Players

Michael Slovitt
Berkadia
Michael Slovitt
5 deals$227.3M volume
BROKER
Fannie Mae
Fannie Mae
LENDER
NV
North Park Ventures
LANDLORD

Details

FINANCED
IMAGE: Robert Sekula & Michael Slovitt DATE: 08/31/2023 ADDRESS: 2730 Hampton Parkway MARKET: Evanston ASSET TYPE: MultiFamily ~ UNITS: 91 ~ SF: 90,000 LENDER: Fannie Mae (@OfficialFannieMae) LANDLORD: North Park Ventures (@NorthParkVentures) - Robert Sekula BROKER: Michael Slovitt (@MichaelSlovitt) - Berkadia (@Berkadia) LOAN AMOUNT: $12,985,000 LOAN TYPE: Refinance LOAN TERMS: 5.42% Fixed, 10 Years, 6 Years IO

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,985,000.00

Monthly NOI$86,566.67
Monthly Debt Service$82,074.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00