Updated Oct 29, 2024
JLL Arranges $34.62M Refinancing For Savor Apartments In West St. Paul
1571 S Robert St West St Paul, Mn 55118, Usa
$34,620,000
Units
200
Asset Type
MultiFamily
Closing
Jul 27, 2023
About this deal
AI
Savor Apartments, a 200-unit market-rate housing community located at 1571 Robeoutht Street South in West St. Paul, Minnesota, has secured a $34.62 million refinancing deal. The loan was arranged by JLL Capital Markets on behalf of Roers Companies and is backed by Fannie Mae. The multifamily property offers a desirable living environment with its extensive amenities and convenient location within the city's market.
Summary of transation details
- Property Type: Multifamily - 200 units
- Transaction Amount: $34,620,000
- Lender: Fannie Mae
- Landlord: Roers Companies
- Brokers: Scott Streiff & Scott Loving - JLL
- Loan Type: Refinance
- Loan Terms: Fixed-rate, ten-year, full-term interest only
JLL Capital Markets successfully facilitated the refinancing deal for Savor Apartments. Scott Streiff and Scott Loving, brokers from JLL, played a crucial role in brokering the transaction. The loan was secured from Fannie Mae, providing a favorable fixed-rate and a ten-year term with full-term interest-only payments. This refinancing initiative strengthens the financial position of Roers Companies, the landlord for this thriving multifamily asset in West St. Paul.
On the Map
$34,620,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93