Ameritas Life Insurance Co Provides $3.5 Million Refinance Loan For Parkview Tower Apartments In Warren MI
27200 Parkview Boulevard
$3,500,000
Units
157
Asset Type
MultiFamily
Closing
Dec 24, 2024
AI
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.
Players
Warren MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93