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Securian Life Insurance Co Loans $30M For Livonia West Commerce Center 2 Industrial Property In Livonia, MI

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FINANCED
$30,000,000

Michigan

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Industrial730,000 SF
Financed 10/16/2023
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FINANCED

Securian Life Insurance Co Loans $30M For Livonia West Commerce Center 2 Industrial Property In Livonia, MI

12950 Eckles Road & 13100 Eckles Road

See Similar Deals
Industrial730,000 SF
Financed 10/16/2023
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Summary

MICHIGAN
Asset Type:Industrial
Price Per Square Foot:$41
Total Square Footage:730,000 SF
Transaction Type:Loan

The Livonia West Commerce Center 2, a 365,000-square-foot industrial property located in Livonia, Michigan, has secured a $30 million loan from Securian Life Insurance Co. The property, owned by Paul D. Rubacha of Ashley Capital, is part of the Livonia West Commerce Center.

Summary of transation details

  • Property type: Industrial
  • Loan amount: $30,000,000
  • Address: 12950 & 13100 Eckles Road, Livonia, MI
  • Market: Livonia, Michigan
  • Lender: Securian Life Insurance Co
  • Landlord: Paul D. Rubacha - Ashley Capital
  • Broker: Bernard Financial Group

This loan transaction was facilitated by Bernard Financial Group, acting as the broker between Securian Life Insurance Co, the lender, and Paul D. Rubacha of Ashley Capital, the landlord. The financing provided by Securian Life Insurance Co will support the Livonia West Commerce Center 2 in its industrial operations.

Players

Securian Financial
Securian Financial
LENDER

Details

FINANCED
IMAGE: Paul D. Rubacha DATE: 10/16/2023 ADDRESS: 12950 & 13100 Eckles Road MARKET: Livonia, MI ASSET TYPE: Industrial ~ SF: 365,000 LENDER: Securian Life Insurance Co LANDLORD: Paul D. Rubacha - Ashley Capital BROKER: Bernard Financial Group LOAN AMOUNT: $30,000,000 NOTE: Securian Life Insurance Co. has extended $30 million in financing for the Livonia West Commerce Center 2, a 365,000-square-foot industrial property located in Livonia, Michigan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00