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Marcus & Millichap Capital Secures $10.6M Loan For Beverly & Ashburn Multifamily Portfolio Acquisition
FINANCED
$10,600,000
Illinois
See Similar DealsMultiFamily
Financed 05/31/2023
FINANCED
Marcus & Millichap Capital Secures $10.6M Loan For Beverly & Ashburn Multifamily Portfolio Acquisition
Beverly, Chicago
See Similar DealsMultiFamily
Financed 05/31/2023
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,600,000.00
Monthly NOI$70,666.67
Monthly Debt Service$66,999.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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