MLG Legacy Fund & MLG Capital Acquire 278-Unit Multifamily Property In Rockford For $27.4M
375 Bienterra Trail, Rockford, Illinois 61107, United States
$27,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 20, 2022
AI
During a recent closed property transaction in Rockford, a 278-unit multifamily asset located at 375 Bienterra Trail changed hands. The property, managed by MLG Legacy Fund & MLG Capital, was sold under an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,400,000
- Date: 07/21/2022
- Address: 375 Bienterra Trail, Rockford
- Market: Rockford
- Units: 278
Brett Hood from Northmarq represented the buyer in this transaction. The 10-year loan, with a fixed interest rate, facilitated the acquisition of the multifamily property at 375 Bienterra Trail.
Players
Rockford 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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93