Eastern Union Arranges $9.75M Bridge Loan For Multifamily Property In Indianapolis
FINANCED
$9,750,000
Indiana
See Similar DealsMultiFamily125,501 SF
Financed 09/14/2021
FINANCED
Eastern Union Arranges $9.75M Bridge Loan For Multifamily Property In Indianapolis
3710 N Meridian St, Indianapolis, IN, USA
See Similar DealsMultiFamily125,501 SF
Financed 09/14/2021
Summary
INDIANA
Asset Type:MultiFamily
Price Per Square Foot:$77
Total Square Footage:125,501 SF
Transaction Type:Loan
A multifamily property located at 3710 N. Meridian St. in Indianapolis, IN has been involved in a closed transaction. The property consists of 195 units and is owned by Crown Capital Ventures and Whitestone Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,750,000
- Loan Type: Bridge
- Loan Terms: Three-year interest-only term, with options for two one-year extensions
The loan for this transaction was provided by Eastern Union, with Michael Wyne representing the lending agency. Michael Wyne is not only the lender but also the loan's representative from Eastern Union. The loan amount of $9,750,000 will be used for this transaction.
Players
BROKERAGE
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,750,000.00
Monthly NOI$65,000.00
Monthly Debt Service$61,626.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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