Updated Oct 28, 2024
Dollar Bank Provides $74.1M Loan For Mixed-Use Property In Pittsburgh
424 South 27th Street, Pittsburgh, Pennsylvania 15203, United States
$74,100,000
$157/SF
Building Size
471,939 SF
Asset Type
Mixed-use
Closing
Oct 27, 2022
About this deal
AI
A mixed-use property located at 424 South 27th St in Pittsburgh, Pennsylvania has recently closed in a transaction. The property spans approximately 471,939 square feet and sits on 123 acres. It is owned by SomeraRoad, a prominent landlord in the area.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $74,100,000
- Market: Pittsburgh, Pennsylvania
- Address: 424 South 27th St
- Square Footage: 471,939
- Acres: 123
The lender in this transaction is Dollar Bank, providing a loan amount of $74,100,000. The loan terms are for 6 years with a floating rate. JLL Capital Markets, represented by Nick Unkovic, served as the broker in this deal.
Players
Pittsburgh Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93