Updated May 14, 2025
Life Insurance Company Provides $7.65M Refinance Loan For Student Housing In Urbana
904 West Green Street
$7,650,000
Building Size
—
Asset Type
Student Housing
Closing
Apr 30, 2025
About this deal
AI
The property asset involved in this transaction is designated as student housing, situated at 904 West Green Street in Urbana. The transaction centers around a refinance loan amounting to $7,650,000. The asset type specifically caters to the student demographic in the Urbana market.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $7,650,000
- Loan Type: Refinance
- Lender Type: Life Insurance Company
- Address: 904 West Green Street
- Market: Urbana
- Brokers: Josh Zysman & Carole Gaffen - Meridian Capital Group
The refinance transaction involved brokers Josh Zysman and Carole Gaffen, representing Meridian Capital Group. This transaction highlights the role of life insurance companies as lenders in the refinancing process for property investments in the student housing sector.
Players
Urbana Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93