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1515 East 154th Street

Updated Jan 3, 2025

Mark Sieb Secures $8.5 Million Refinance Loan For Senior Housing In Dolton
FINANCEDSenior Housing

Mark Sieb Secures $8.5 Million Refinance Loan For Senior Housing In Dolton

1515 East 154th Street

$8,500,000

$69/SF

Building Size

122,625 SF

Asset Type

Senior Housing

Closing

Dec 20, 2024

About this deal

AI

The property asset involved in the transaction is a senior housing facility located at 1515 East 154th Street in Dolton. The asset encompasses 122,625 square feet and includes a total of 127 units. The loan amount secured for this asset is $8,500,000, which is part of a refinance deal consisting of non-recourse terms and $5 million in cash-out proceeds along with a flexible pre-pay schedule.

Summary of transaction details:

The deal involves key individuals including Dean Ofer, who represents Harborview Capital Partners, serving as the correspondent for the lender, Horizon Capital. The landlord for the property is Mark Sieb, highlighting the parties involved in the financing of the senior housing asset.

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$8,500,000

$69/SF

Senior Housing

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Players

Dean Ofer

Harborview Capital Partners

Broker

$152.9M

vol

9 deals

Broker
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Dolton Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Loan transactions

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Deal FAQ

About $69 per square foot on a published $8.5M for 122,625 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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