Bernard Financial Group Arranges $7.8M Acquisition Loan For Downers Grove Retail
$7,800,000
Building Size
—
Asset Type
Retail
Closing
Feb 26, 2024
AI
A 124,005-square-foot shopping center located at 7221-7401 Lemont Road in Downers Grove, Chicago was the subject of a recent transaction. The acquisition loan for this retail property amounted to $7,800,000 and was secured for Downers Grove Associates LLC. Securian Life Insurance Co. served as the lender for this deal, which was arranged by Dennis Bernard and Joshua Bernard of Bernard Financial Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,800,000
- Address: 7221-7401 Lemont Road
- Market: Downers Grove
- Lender: Securian Life Insurance Co.
- Landlord: Downers Grove Associates LLC
- Brokers: Dennis Bernard & Joshua Bernard - Bernard Financial Group
The involvement of key individuals and companies in the transaction includes Dennis Bernard and Joshua Bernard representing Bernard Financial Group in securing the acquisition loan for the shopping center. Additionally, Securian Life Insurance Co. played a crucial role as the lender, supporting the successful completion of the deal.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93