Northmarq Represents Merrill Gardens & AEW In $39M Loan For Mt Pleasant Property
3501 Merrill Pl, Mount Pleasant, South Carolina 29466, United States
$39,000,000
Building Size
—
Asset Type
Other
Closing
Jun 21, 2022
AI
The property located at 3501 Merrill Pl in Mt Pleasant, SC has been involved in a loan transaction. The asset is comprised of 158 units and spans across 14.86 acres. The property is owned by Merrill Gardens & AEW Senior Housing Investors III, L.P.
Summary of transaction details
- Property Type: N/A
- Transaction Amount: $39,000,000
- Loan Terms: a five-year fixed rate and 18 months interest only
- Landlord: Merrill Gardens & AEW Senior Housing Investors III, L.P
- Brokers: Stuart Oswald - Northmarq
The loan amount for this transaction was $39,000,000 and it includes a five-year fixed rate with 18 months of interest-only payments. Stuart Oswald, representing Northmarq, played a key role as the broker in this deal.
Players
Mount Pleasant Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93