Updated Oct 28, 2024
Ameritus Acquires Multifamily Property In Wheeling With $50M Loan From CoreVest American Finance
350 Inland Drive, Wheeling, Illinois 60090, United States
$50,000,000
Units
74
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
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.
On the Map
$50,000,000
MultiFamily
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Players
Wheeling 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