Enterprise Community Development Secures $60M Acquisition & Renovation Loan For Senior Housing In Glen Burnie, Ellicott City & Columbia, MD
7466 Furnace Branch Road, Glen Burnie, Maryland 21060, United States
$60,000,000
Building Size
—
Asset Type
—
Closing
Dec 13, 2021
About this deal
AI
The recently closed transaction involved the acquisition and renovation of a senior housing asset located at 7466 East Furnace Branch Road, 8700 Ridge Road, and 8610 Snowden River Parkway in Glen Burnie, Ellicott City, and Columbia, MD. The property was financed through a loan provided by the State of Maryland’s Department of Housing and Community Development, Arundel Community Development Services, Enterprise Community Investment, and Bellwether Enterprise. The total loan amount was $60,000,000.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $60,000,000
- Lender: State of Maryland’s Department of Housing and Community Development, Arundel Community Development Services, Enterprise Community Investment & Bellwether Enterprise
- Landlord: Enterprise Community Development - Jessica Jones
Jessica Jones of Enterprise Community Development represented the landlord in this transaction.
On the Map
$60,000,000
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Players
Glen Burnie CRE Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93