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
$7,000,000
$54/SF
Building Size
128,000 SF
Asset Type
Office
Closing
Aug 23, 2021
AI
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.
Players
Ann Arbor Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93