Barclays Provides $19.8 Million Refinance Loan For Student Housing Portfolio In DeKalb
807 Lucinda Avenue
$19,800,000
$55,774/SF
Building Size
355 SF
Asset Type
Student Housing
Closing
Jul 31, 2024
AI
The property asset involved in this transaction is a student housing portfolio located at 807 Lucinda Avenue in DeKalb, Northern Illinois. This portfolio consists of 355 units and has secured a refinance loan amounting to $19,800,000 under CMBS loan terms.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $19,800,000
- Address: 807 Lucinda Avenue
- Market: DeKalb
- Lender: Barclays
- Broker: Anthony Longo - Alpha Capital
- Loan Type: Refinance
- Loan Terms: CMBS loan
- Units: 355
Key individuals involved in this transaction include broker Anthony Longo representing Alpha Capital, facilitating the refinancing process for this significant student housing asset, enhancing the financial stability and continuity of operations for the property in the competitive DeKalb market.
Players
Dekalb Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93