LMF Commercial Provides $10,500,000 Refinance Loan For Mixed-Use Asset In Kannapolis NC
FINANCED
$10,500,000
North Carolina
See Similar DealsMixed-use
Financed 05/26/2026
FINANCED
LMF Commercial Provides $10,500,000 Refinance Loan For Mixed-Use Asset In Kannapolis NC
Mixed-use
Financed 05/26/2026
Summary
Asset Type:Mixed-use
Transaction Type:Loan
The property asset is a mixed-use development located in Kannapolis, NC, consisting of 43 units. The transaction involved a loan amount of $10,500,000 for refinancing purposes, under CMBS with a term of 5 years and a Fixed Term Interest Only (FTIO) structure.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,500,000
- Lender: LMF Commercial
- Loan Originator: Michael Muscatell
- Loan Terms: CMBS - 5 Year, FTIO
- Deal Team: Gavin Ferruggia, Steven Russell
Michael Muscatell served as the loan originator for this transaction, while Gavin Ferruggia and Steven Russell were part of the deal team from LMF, contributing to the successful refinancing of the property asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,500,000.00
Monthly NOI$70,000.00
Monthly Debt Service$66,367.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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