Keel Team REI Refinances 197-Unit MHC Portfolio In Ludington & Crookston For $7.8M
FINANCED
$7,808,000
Michigan
See Similar DealsMultiFamily30 SF
Financed 02/09/2024
FINANCED
Keel Team REI Refinances 197-Unit MHC Portfolio In Ludington & Crookston For $7.8M
5040 West Rasmussen Road, 202 7th Avenue South & 101 Willow Street Crookston
See Similar DealsMultiFamily30 SF
Financed 02/09/2024
Summary
MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$260,266
Total Square Footage:30 SF
Transaction Type:Loan
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $7,808,000
- Units: 197
- Address: 5040 Rasmussen Road; 202 7th Avenue South; 101 Willow Street
- Market: Ludington, MI & Crookston, MN
- Lender: PNC Bank
- Landlord: Keel Team Real Estate Investments
- Broker: Scott Modelski - Black Bear Capital Partners
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,808,000.00
Monthly NOI$52,053.33
Monthly Debt Service$49,351.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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