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Interamar Refinances Fishers Office Building With $8.5M Loan From Inland Mortgage Capital

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FINANCED
$8,500,000

Indiana

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Office109,413 SF
Financed 04/28/2023
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FINANCED

Interamar Refinances Fishers Office Building With $8.5M Loan From Inland Mortgage Capital

9988 Crosspoint Boulevard

See Similar Deals
Office109,413 SF
Financed 04/28/2023
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Summary

INDIANA
Asset Type:Office
Price Per Square Foot:$77
Total Square Footage:109,413 SF
Transaction Type:Loan

The multi-tenant office building located at 9988 Crosspoint Boulevard in Fishers, IN has recently undergone a refinancing transaction. Spanning 109k SF, the property was refinanced through a $8,500,000 loan provided by Inland Mortgage Capital. The loan type was a refinance, and it featured a 3-year floating rate with interest-only payments for the entire duration of the term. The landlord in this transaction was Interamar, and the broker representing the deal was Matthew Stearns from Black Bear Capital Partners.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $8,500,000
  • Lender: Inland Mortgage Capital
  • Landlord: Interamar
  • Broker: Matthew Stearns - Black Bear Capital Partners

This refinancing deal involves a multi-tenant office building in Fishers, IN. The loan amount of $8,500,000 was facilitated by Inland Mortgage Capital, providing the necessary funds for the refinancing. Interamar acted as the landlord in this transaction, while Matthew Stearns from Black Bear Capital Partners represented the deal as the broker.

Players

Matthew (Matt) Stearns
33 deals$895.4M volume
BROKER

Inland Mortgage Capital
LENDER

Details

FINANCED
IMAGE: Matthew Stearns DATE: 04/28/2023 ADDRESS: 9988 Crosspoint Boulevard MARKET: Fishers, IN ASSET TYPE: Office LENDER: Inland Mortgage Capital LANDLORD: Interamar BROKER: Matthew Stearns - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $8,500,000 LOAN TYPE: Refinance LOAN TERMS: The multi-tenant office building, spanning 109k SF, was refinanced via a 3-year floating rate loan and interest-only payments for the entirety of the term.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,500,000.00

Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00