PGIM Real Estate Provides $16.1M Acquisition And Rehabilitation Loan For Senior Housing In Billings, Montana
769 Fallow Lane Billings, Montana 59102, USA
$16,140,000
Building Size
—
Asset Type
Senior Housing
Closing
Jun 16, 2023
AI
PGIM Real Estate has provided a loan of $16,140,000 for the acquisition and rehabilitation of a senior housing property located at 769 Fallow Lane in Billings, MT. The property consists of 101 units and is owned by Lincoln Avenue Capital.
Summary of transation details
- Property Type: Senior Housing
- Transaction Amount: $16,140,000
- Lender: PGIM Real Estate - Alex Viorst
- Landlord: Lincoln Avenue Capital
- Loan Type: Acquisition and Rehabilitation
- Market: Billings, MT
Alex Viorst from PGIM Real Estate served as the lender's representative in this transaction, facilitating the loan for the acquisition and rehabilitation of the senior housing property owned by Lincoln Avenue Capital.
Players
Billings Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93