MLG Legacy Fund & MLG Capital Acquire 278-Unit Multifamily Property In Rockford For $27.4M
FINANCED
$27,400,000
Illinois
See Similar DealsMultiFamily
Financed
FINANCED
MLG Legacy Fund & MLG Capital Acquire 278-Unit Multifamily Property In Rockford For $27.4M
375 Bienterra Trail, Rockford, Illinois 61107, United States
See Similar DealsMultiFamily
Financed
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,400,000.00
Monthly NOI$182,666.67
Monthly Debt Service$173,186.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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