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7301 Lake Dr

American National Bank Provides $21,600,000 Loan For Special Purpose Property In West Des Moines
FINANCEDSpecial Purpose

American National Bank Provides $21,600,000 Loan For Special Purpose Property In West Des Moines

7301 Lake Dr

$21,600,000

$908/SF

Building Size

23,785 SF

Asset Type

Special Purpose

Closing

Jun 2, 2025

AI

The property asset involved is a special purpose asset located at 7301 Lake Dr in the West Des Moines market. The loan amount for this transaction is $21,600,000.00.

Summary of transaction details:

Michael J. Gefter represents the transaction in his role as broker, facilitating the loan process with American National Bank as the lender for this specific property asset.

Players

Michael J. Gefter

Broker

$282.5M

vol

66 deals

Broker
Wolf Investment Partners
Wolf Investment PartnersBrokerage
American National Bank
American National BankLender

Jason Pittack

Landlord
Landlord

West Des Moines Special Purpose Market Snapshot

Boundary boundary · Special Purpose · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.73%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93