$3.19M Loan Secured For Acquisition Of 100 Unit Mobile Home Park Portfolio In Spartanburg SC
$3,187,500
Building Size
—
Asset Type
Mobile Home
Closing
Jul 30, 2024
AI
The property involved in the transaction is a mobile home park portfolio consisting of 100 units, located at 143 Chelsea Street in Spartanburg, South Carolina. The loan amount secured for the acquisition of this asset is $3,187,500.
Summary of transaction details:
- Property Type: Mobile Home Park Portfolio
- Transaction Amount: $3,187,500
- Address: 143 Chelsea Street
- Market: Spartanburg, South Carolina
- Units: 100
- Loan Type: Acquisition
The deal involved key individuals representing different firms: Chaim Sherwinter and Paul Gilbert are the brokers from Meridian Capital Group, while Dylan Hellberg and Glenn Esterson represent the sales side from Marcus Millichap.
Players
Moore Mobile Home Market Snapshot
Boundary boundary · Mobile Home · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.98%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93