Barings Provides $67M Recapitalization Loan For Lombard Multifamily Property
FINANCED
$67,000,000
Illinois
See Similar DealsMultiFamily
Financed 04/28/2022
FINANCED
Barings Provides $67M Recapitalization Loan For Lombard Multifamily Property
450 Woodmoor Dr, Lombard, Illinois 60148, United States
See Similar DealsMultiFamily
Financed 04/28/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
450 Woodmoor Dr in Lombard has been the site of a recent closed transaction. This multifamily property consists of 256 units, making it a significant asset in the market. The transaction took place on 04/28/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,000,000
- Loan Type: Recapitalization
- Loan Terms: Three-year term with funding for lease-up to stabilization
The loan for this transaction was provided by barings-4626a10b-91b9-4404-b096-d78fc90a0c26''>Barings, represented by Nicole Pecoulas. The loan amount totaled $67,000,000. It was a recapitalization loan with a three-year term. The loan also included funding to complete the lease-up process and stabilize the property. UrbanStreet Group and Atlas Residential serve as the landlords for this property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$67,000,000.00
Monthly NOI$446,666.67
Monthly Debt Service$423,485.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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