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Botsford Place Terrace Apartments LLC Secures $2.8M Refinance Loan For 98-Unit Property In Farmington Hills

Property Image
FINANCED
$2,800,000

Michigan

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MultiFamily
Financed 01/28/2025
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Property Image
FINANCED

Botsford Place Terrace Apartments LLC Secures $2.8M Refinance Loan For 98-Unit Property In Farmington Hills

27883 Independence Street

See Similar Deals
MultiFamily
Financed 01/28/2025
the dealplayerscompscontact
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Summary

MICHIGAN
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved in this transaction is a 98-unit multifamily property located at 27883 Independence Street in Farmington Hills, MI. The refinancing loan arranged for this asset amounts to $2,800,000. The property is managed by Botsford Place Terrace Apartments LLC.

Summary of transaction details:

David Ruff from Bernard Financial Group secured the refinancing loan on behalf of Botsford Place Terrace Apartments LLC, facilitating the transaction with Genisys Credit Union.

Players

David Ruff
Bernard Financial Group
David Ruff
1 deal$2.8M volume
BROKER

Details

FINANCED
IMAGE: 01/28/2025 ADDRESS: 27883 Independence Street MARKET: Farmington Hills, MI ASSET TYPE: Multifamily ~ UNITS: 98 LENDER: Genisys Credit Union LANDLORD: Botsford Place Terrace Apartments LLC BROKER: David Ruff - Bernard Financial Group LOAN AMOUNT: $2,800,000 LOAN TYPE: Refinance NOTE: Bernard Financial Group arranged a $2.8 million refinancing loan for Botsford Place Terrace Apartments, a 98-unit multifamily property in Farmington Hills, MI. David Ruff of BFG secured the loan with Genisys Credit Union on behalf of Botsford Place Terrace Apartments LLC.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,800,000.00

Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00