Bethpage Federal Credit Union Provides $90 Million Acquisition Loan For Office Property In Lake Zurich, IL
FINANCED
$90,000,000
+ 1
Illinois
See Similar DealsOffice1,091,214 SF
Financed 05/11/2022
FINANCED
Bethpage Federal Credit Union Provides $90 Million Acquisition Loan For Office Property In Lake Zurich, IL
1 Corporate Dr, Lake Zurich, Illinois 60047, United States
See Similar DealsOffice1,091,214 SF
Financed 05/11/2022
+ 1
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$82
Total Square Footage:1,091,214 SF
Transaction Type:Loan
Located at 1-4 Corporate Drive in Lake Zurich, IL, this office property spans a total of 1,063,543 square feet. The transaction involved an acquisition loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Lender: Bethpage Federal Credit Union
- Brokers: Morris Betesh, Jack McPhail, Israel Mermelstein, and Jacob Schmuckler - Meridian Capital Group
The loan was facilitated by Bethpage Federal Credit Union, while the brokerage services were provided by Morris Betesh, Jack McPhail, Israel Mermelstein, and Jacob Schmuckler from Meridian Capital Group.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,000,000.00
Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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