Signature Bank Provides $26M Loan For Office Property In East Village
FINANCED
$26,000,000
Michigan
See Similar DealsOffice97,020 SF
Financed 07/23/2021
FINANCED
Signature Bank Provides $26M Loan For Office Property In East Village
409-413 Lafayette Street, East Village, Flint, MI, USA
See Similar DealsOffice97,020 SF
Financed 07/23/2021
Summary
MICHIGAN
Asset Type:Office
Price Per Square Foot:$268
Total Square Footage:97,020 SF
Transaction Type:Loan
The office building located at 409-413 Lafayette Street in the East Village has been involved in a recent loan transaction. The loan amount of the deal was $26,000,000. The total square footage of the property is 97,020 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,000,000
- Address: 409-413 Lafayette Street
- Market: East Village
Signature Bank provided the loan for this transaction. The landlord of the property is Himmel + Meringoff Properties, represented by Andrea Himmel & Jason Vacker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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