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Colliers Mortgage Secures $1.5M Loan For Rehabilitation Of Parkway Cooperative In Burnsville
FINANCED
$1,500,000
Minnesota
See Similar DealsSenior Housing
Financed 01/16/2024
FINANCED
Colliers Mortgage Secures $1.5M Loan For Rehabilitation Of Parkway Cooperative In Burnsville
115 East Burnsville Parkway
See Similar DealsSenior Housing
Financed 01/16/2024
Summary
MINNESOTA
Asset Type:Senior Housing
Transaction Type:Loan
Colliers Mortgage has secured a $1.5 million HUD 241(a) loan to support the rehabilitation of Parkway Cooperative of Burnsville in Minnesota. This senior housing property offers 102 units, including one- and two-bedroom options. Situated along 115 East Burnsville Parkway, the property is well-positioned in the Burnsville market.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $1,500,000
- Address: 115 East Burnsville Parkway
- Market: Burnsville, MN
- Units: 102
Colliers Mortgage acted as the lender in this deal, providing the $1.5 million loan for the rehabilitation of Parkway Cooperative. Parkway Cooperative, the landlord, will benefit from the loan to improve the property and enhance the living experience for its senior residents.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,500,000.00
Monthly NOI$10,000.00
Monthly Debt Service$9,481.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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