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Pilgrim Villa LLC Secures $1 Million Loan For 22 Unit Multifamily Property In Detroit MI
FINANCED
$1,000,000
Michigan
See Similar DealsMultiFamily
Financed 05/30/2025
FINANCED
Pilgrim Villa LLC Secures $1 Million Loan For 22 Unit Multifamily Property In Detroit MI
15949 Quincy Street
See Similar DealsMultiFamily
Financed 05/30/2025
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multi-family property located at 15949 Quincy Street in Detroit, MI, comprising a total of 22 units. The loan amount secured for this property is $1,000,000.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $1,000,000
- Address: 15949 Quincy Street
- Market: Detroit, MI
- Lender: BFG
- Landlord: Pilgrim Villa, LLC
- Broker: Joshua Bernard - Bernard Financial Group
Key individuals and companies involved in this transaction include Pilgrim Villa, LLC, acting as the landlord for the property. The financial arrangements were facilitated by Joshua Bernard of Bernard Financial Group, who acted as the broker in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,000,000.00
Monthly NOI$6,666.67
Monthly Debt Service$6,320.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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