CJK Investments II, LLC Secures $7M Acquisition Loan For 61-Unit Multifamily Property On College Ave, Morris, Minnesota
FINANCED
$7,000,000
Minnesota
See Similar DealsMultiFamily
Financed 02/17/2022
FINANCED
CJK Investments II, LLC Secures $7M Acquisition Loan For 61-Unit Multifamily Property On College Ave, Morris, Minnesota
503 College Avenue, Morris, Minnesota 56267, United States
See Similar DealsMultiFamily
Financed 02/17/2022
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 503 College Ave in Morris, Minnesota has been involved in a recent transaction. The property consists of 61 units and was acquired by CJK Investments II, LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Loan Type: Acquisition Loan
- Loan Terms: 10-year term and 30-year amortization
- Lender: Colliers Mortgage - David Juran
David Juran from Colliers Mortgage served as the lender in this transaction. With a loan amount of $7,000,000, the acquisition loan had a 10-year term and a 30-year amortization. CJK Investments II, LLC acted as the landlord in this deal.
Players
LENDER
Details
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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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