Updated Dec 4, 2024
Securian Life Insurance Co Loans $30M For Livonia West Commerce Center 2 Industrial Property In Livonia, MI
12950 Eckles Road & 13100 Eckles Road
$30,000,000
$41/SF
Building Size
365,000 SF
Asset Type
Industrial
Closing
Oct 16, 2023
About this deal
AI
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.
On the Map
$30,000,000
$41/SF
Industrial
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Players
Livonia Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93