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:
- Property Type: Special Purpose
- Transaction Amount: $21,600,000.00
- Address: 7301 Lake Dr
- Market: West Des Moines
- Lender: American National Bank
- Broker: Michael J. Gefter
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
West Des Moines Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Loan transactions
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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