Mark McClure Acquires 200-Acre Subdivision In Wiscasset, ME For $12.7M Loan From GenX Capital Partners
River Point Road, Wiscasset, Maine 04578, United States
$12,700,000
Building Size
—
Asset Type
Other
Closing
Apr 20, 2022
About this deal
AI
Located on River Point Rd in Wiscasset, ME, this 200-acre subdivision has recently undergone a significant transaction. Mark McClure, the landlord, has obtained a loan for the property from GenX Capital Partners. The loan amount is $12,700,000, and it is an acquisition loan as well as a construction loan.
Summary of transaction details:
- Property Type: Subdivision
- Transaction Amount: $12,700,000
- Address: River Point Rd, Wiscasset, ME
- Market: Wiscasset, ME
- Landlord: Mark McClure
- Lender: GenX Capital Partners
- Loan Type: Acquisition Loan & Construction
This transaction highlights the collaboration between Mark McClure, the landlord, and GenX Capital Partners, the lender. Their partnership has facilitated the acquisition and construction of this 200-acre subdivision on River Point Rd in Wiscasset, ME. It signifies a significant investment in the development and growth of the area.
Players
Wiscasset Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93