Updated Mar 11, 2025
Windcrest Village II LLC Secures $7.3M Refinancing Loan For 93-Unit Multifamily In Spencer, Iowa
1009 West 9th Street, Spencer, Iowa 51301, United States
$7,300,000
Units
93
Asset Type
MultiFamily
Closing
Dec 13, 2021
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 1009 W 9th St in Spencer, Iowa. The property consists of 93 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,300,000
- Address: 1009 W 9th St, Spencer, Iowa
- Market: Spencer, Iowa
- Units: 93
The lender for this transaction was Colliers Mortgage. The loan amount was $7,300,000, and it was a refinancing loan. The loan terms included a seven-year duration and a 30-year amortization schedule. The landlord involved in this transaction was Windcrest Village II LLC.
Players
Spencer 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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93