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Weiss Entities Refinances 440-Unit Multifamily Property In Merrillville, Indiana For $54M

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FINANCED
$54,000,000

Indiana

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MultiFamily
Financed 04/07/2023
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FINANCED

Weiss Entities Refinances 440-Unit Multifamily Property In Merrillville, Indiana For $54M

9123 Cleveland St,Merrillville, Indiana

See Similar Deals
MultiFamily
Financed 04/07/2023
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Summary

INDIANA
Asset Type:MultiFamily
Transaction Type:Loan

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.

Players

Mark Perkowski
2 deals$108M volume(312) 795-2661
BROKER

Details

FINANCED
IMAGE: Don Weiss & Mark Perkowski DATE: 04/07/2023 ADDRESS: 9123 Cleveland St MARKET: Merrillville, Indiana ASSET TYPE: Multifamily ~ UNITS: 440 LENDER: Protective Life Insurance (@ProtectiveLife) LANDLORD: Weiss Entities - Don Weiss BROKER: Mark Perkowski - Draper and Kramer LOAN AMOUNT: $54,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year, fixed-rate loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$54,000,000.00

Monthly NOI$360,000.00
Monthly Debt Service$341,316.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00