Darragh Griffin & Quinn Keenan Of Essex Capital Markets Secures $9.5 Million Refinance Loan In Chicago
FINANCED
$9,516,000
Illinois
See Similar DealsMultiFamily20 SF
Financed 07/16/2024
FINANCED
Darragh Griffin & Quinn Keenan Of Essex Capital Markets Secures $9.5 Million Refinance Loan In Chicago
420 West Melrose Street & 620 West Surf Street
See Similar DealsMultiFamily20 SF
Financed 07/16/2024
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$475,800
Total Square Footage:20 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 420 West Melrose Street and 620 West Surf Street in the Chicago market, consisting of 116 units. The loan amount secured for the refinancing of this property is $9,516,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,516,000
- Loan Type: Refinance
- Loan Terms: Term: 10 Year Full-Term Interest Only, Type: Agency, Spread: 1.25%
The deal was facilitated by Darragh Griffin and Quinn Keenan, representatives from Essex Capital Markets, who acted on behalf of the lender in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,516,000.00
Monthly NOI$63,440.00
Monthly Debt Service$60,147.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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