Ameritus Acquires Multifamily Property In Wheeling With $50M Loan From CoreVest American Finance
FINANCED
$50,000,000
Illinois
See Similar DealsMultiFamily
Financed 05/27/2022
FINANCED
Ameritus Acquires Multifamily Property In Wheeling With $50M Loan From CoreVest American Finance
350 Inland Drive, Wheeling, Illinois 60090, United States
See Similar DealsMultiFamily
Financed 05/27/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
A multifamily property located at 350 Inland Drive in Wheeling was recently involved in a closed transaction. The property consists of 74 units and is situated in the Wheeling market. The transaction took place on 05/27/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 350 Inland Drive
- Market: Wheeling
- Units: 74
The lender involved in this transaction was CoreVest American Finance. The landlord of the property is Ameritus, represented by Benjamin Nummy, Jeb Scherb, and Bob Buddington.
Bob Buddington, Benjamin Nummy, and Jeb Scherb were the individuals involved in this deal. They represented Ameritus as its landlord in the transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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