Dollar Bank Provides $74.1M Loan For Mixed-Use Property In Pittsburgh
FINANCED
$74,100,000
Pennsylvania
See Similar DealsMixed-use471,939 SF
Financed 10/28/2022
FINANCED
Dollar Bank Provides $74.1M Loan For Mixed-Use Property In Pittsburgh
424 South 27th Street, Pittsburgh, Pennsylvania 15203, United States
See Similar DealsMixed-use471,939 SF
Financed 10/28/2022
Summary
PENNSYLVANIA
Asset Type:Mixed-use
Price Per Square Foot:$157
Total Square Footage:471,939 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,100,000.00
Monthly NOI$494,000.00
Monthly Debt Service$468,362.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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