Northmarq Represents Merrill Gardens & AEW In $39M Loan For Mt Pleasant Property
FINANCED
$39,000,000
South Carolina
See Similar DealsOther
Financed 06/22/2022
FINANCED
Northmarq Represents Merrill Gardens & AEW In $39M Loan For Mt Pleasant Property
3501 Merrill Pl, Mount Pleasant, South Carolina 29466, United States
See Similar DealsOther
Financed 06/22/2022
Summary
SOUTH CAROLINA
Asset Type:Other
Transaction Type:Loan
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
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,000,000.00
Monthly NOI$260,000.00
Monthly Debt Service$246,506.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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