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Dan Hermann Of Ziegler Provides $632.9M Loan To David V. Pomeranz Of RiverSpring Living
FINANCED
$632,925,000
New York
See Similar DealsSenior Housing
Financed
FINANCED
Dan Hermann Of Ziegler Provides $632.9M Loan To David V. Pomeranz Of RiverSpring Living
5901 Palisade Avenue
See Similar DealsSenior Housing
Financed
Summary
NEW YORK
Asset Type:Senior Housing
Transaction Type:Loan
The asset involved in this transaction is a senior housing property located at 5901 Palisade Avenue in the Bronx market. The loan amount for this property is $632,925,000, which is part of a tax-exempt bond financing arrangement.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $632,925,000
- Lender: Dan Hermann - Ziegler
- Landlord: David V. Pomeranz - RiverSpring Living
This deal represents the largest senior living bond deal to date and marks the first continuing care retirement community project in New York City, highlighting Ziegler's role in facilitating the financing for River's Edge.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$632,925,000.00
Monthly NOI$4,219,500.00
Monthly Debt Service$4,000,516.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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