Updated Oct 29, 2024
Weiss Entities Refinances 440-Unit Multifamily Property In Merrillville, Indiana For $54M
9123 Cleveland St,Merrillville, Indiana
$54,000,000
Units
440
Asset Type
MultiFamily
Closing
Apr 7, 2023
About this deal
AI
The multifamily property located at 9123 Cleveland St in Merrillville, Indiana has undergone a refinancing transaction. The property consists of 440 units and is owned by Weiss Entities, with Don Weiss as the landlord. The deal was facilitated by Mark Perkowski of Draper and Kramer, who represented the landlord.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Lender: Protective Life Insurance
- Loan Type: Refinance
- Loan Terms: five-year, fixed-rate loan
Don Weiss, the owner of Weiss Entities, and Mark Perkowski from Draper and Kramer played key roles in the refinancing deal of the multifamily property at 9123 Cleveland St. The loan of $54,000,000 was provided by Protective Life Insurance on a five-year, fixed-rate term.
On the Map
$54,000,000
MultiFamily
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Merrillville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93