Securian Life Provides $4.8M Refinance For Claymoor's 129-Unit Southfield Multifamily
29260 Franklin Road
$4,800,000
Units
129
Asset Type
MultiFamily
Closing
Mar 27, 2024
AI
Claymoor Properties LP refinanced a 129-unit multifamily property located at 29260 Franklin Road in Southfield, Michigan. Securian Life Insurance Co. provided a loan amounting to $4,800,000 for the transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,800,000
- Units: 129
- Lender: Securian Life Insurance Co.
- Landlord: Claymoor Properties LP
- Brokers: Dennis Bernard & Joshua Bernard - Bernard Financial Group
- Market: Southfield, Michigan
Bernard Financial Group played a key role in arranging the $4.8 million loan for Claymoor Properties LP. The Bernard Financial Group, represented by Dennis Bernard & Joshua Bernard, facilitated the refinancing of the multifamily property in Southfield, a suburb of Detroit.
Players
Southfield 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93