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David Scheer Of Dwight Mortgage Trust Provides $88.5M Loan For Multifamily Acquisition In Belleville MI

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FINANCED
$88,500,000

Michigan

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MultiFamily1,123,560 SF
Financed 02/18/2025
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Property Image
FINANCED

David Scheer Of Dwight Mortgage Trust Provides $88.5M Loan For Multifamily Acquisition In Belleville MI

49000 Denton Road

See Similar Deals
MultiFamily1,123,560 SF
Financed 02/18/2025
the dealplayerscompscontact
Contact now

Summary

MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$78
Total Square Footage:1,123,560 SF
Transaction Type:Loan

The property asset involved in this transaction is a multifamily unit located at 49000 Denton Road in Belleville, MI. This asset consists of 1,046 units and covers a total square footage of 1,123,560. The acquisition loan amount secured for this property is $88,500,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $88,500,000
  • Asset Address: 49000 Denton Road
  • Market: Belleville, MI
  • Units: 1,046
  • Square Feet: 1,123,560
  • Lender: David Scheer - Dwight Mortgage Trust
  • Landlord: Paul E. Kiebler - Pepper Pike Capital Partners
  • Loan Type: Acquisition

This transaction was facilitated by David Scheer, representing Dwight Mortgage Trust as the lender. Additionally, Paul E. Kiebler represents Pepper Pike Capital Partners as the landlord involved in this acquisition deal.

Players

DS
Dwight Capital
David Scheer
10 deals$514.5M volume
LENDER
Dwight Capital
Dwight Capital
LENDER

Details

FINANCED
IMAGE: David Scheer & Paul E. Kiebler DATE: 02/18/2025 ADDRESS: 49000 Denton Road MARKET: Belleville, MI ASSET TYPE: Multifamily ~ UNITS: 1,046 ~ SF: 1,123,560 LENDER: David Scheer - Dwight Mortgage Trust (@DwightCap) LANDLORD: Paul E. Kiebler - Pepper Pike Capital Partners (@PepperPikeProperties) LOAN AMOUNT: $88,500,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$88,500,000.00

Monthly NOI$590,000.00
Monthly Debt Service$559,380.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00