Mag Mile Capital Provides $7M Loan For Office Building At 600 S. Wagner Rd In Ann Arbor, MI
FINANCED
$7,000,000
Michigan
See Similar DealsOffice128,000 SF
Financed 08/23/2021
FINANCED
Mag Mile Capital Provides $7M Loan For Office Building At 600 S. Wagner Rd In Ann Arbor, MI
600 S Wagner Rd, Ann Arbor, MI, USA
See Similar DealsOffice128,000 SF
Financed 08/23/2021
Summary
MICHIGAN
Asset Type:Office
Price Per Square Foot:$54
Total Square Footage:128,000 SF
Transaction Type:Loan
A loan of $7,000,000 has been secured for an office property located at 600 S. Wagner Rd in Ann Arbor, MI. The loan features a 3.75% interest rate and is associated with a property measuring 128,000 square feet. The transaction was facilitated by broker Rushi Shah of Mag Mile Capital.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,000,000
- Loan Terms: 3.75% interest rate
- Address: 600 S. Wagner Rd, Ann Arbor, MI
- Market: Ann Arbor, MI
- Broker: Rushi Shah - Mag Mile Capital
- Square Feet: 128,000
This successful loan transaction was made possible through the expertise and representation of Rushi Shah from Mag Mile Capital. Their involvement demonstrates their commitment to facilitating real estate deals in the Ann Arbor, MI market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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