Marcus & Millichap Capital Secures $10.6M Loan For Beverly & Ashburn Multifamily Portfolio Acquisition
Beverly, Chicago
$10,600,000
Building Size
—
Asset Type
MultiFamily
Closing
May 31, 2023
AI
Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.6 million loan for the acquisition of a portfolio of six multifamily properties in Chicago's Beverly and Ashburn neighborhoods. The multifamily portfolio consists of 118 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,600,000
- Address: Beverly & Ashburn, Chicago
- Market: Beverly & Ashburn, Chicago
- Loan Type: Acquisition Loan
- Loan Details: 24-month loan, fixed interest rate, 75% loan-to-cost ratio
The loan was secured by Dean Giannakopoulos of MMCC, who represented the buyer in the deal.
NOTE: Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.6 million loan for the acquisition of a portfolio of six multifamily properties in Chicago's Beverly and Ashburn neighborhoods. Dean Giannakopoulos of MMCC secured the 24-month loan with a fixed interest rate and a 75 percent loan-to-cost ratio.
Chicago 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
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93