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Ameritas Life Insurance Co Provides $3.5 Million Refinance Loan For Parkview Tower Apartments In Warren MI
FINANCED
$3,500,000
Michigan
See Similar DealsMultiFamily
Financed 12/24/2024
FINANCED
Ameritas Life Insurance Co Provides $3.5 Million Refinance Loan For Parkview Tower Apartments In Warren MI
27200 Parkview Boulevard
See Similar DealsMultiFamily
Financed 12/24/2024
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 27200 Parkview Boulevard, Warren, MI, comprising 157 units. The loan amount secured for this property is $3,500,000, classified as a refinancing loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Address: 27200 Parkview Boulevard
- Market: Warren, MI
- Lender: Ameritas Life Insurance Co
- Landlord: Parkview Tower Apartments LP
- Broker: Joshua Bernard - Bernard Financial Group
- Loan Type: Refinance
- Units: 157
Joshua Bernard of Bernard Financial Group played a critical role in arranging the refinancing loan through Ameritas Life Insurance Corp., representing the landlord, Parkview Tower Apartments LP, in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,500,000.00
Monthly NOI$23,333.33
Monthly Debt Service$22,122.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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