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CREC Real Estate & Madison Marquette Refinance $37.5M Loan For McKinney Senior Housing

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FINANCED
$37,500,000
Jason Skalko
Joel Mendes
MM

Texas

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Financed 01/05/2022
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Property Image
FINANCED

CREC Real Estate & Madison Marquette Refinance $37.5M Loan For McKinney Senior Housing

6421 Mckinney Ranch Parkway, McKinney, Texas 75070, United States

See Similar Deals
Financed 01/05/2022
Jason Skalko
Joel Mendes
MM
the dealplayerscompscontact
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Summary

TEXAS
Transaction Type:Loan

Located at 6421 McKinney Ranch Pkwy in McKinney, this senior housing property has recently undergone a refinancing loan transaction. The asset consists of 194 units and is owned by CREC Real Estate and Madison Marquette.

Summary of transaction details

  • Property Type: Senior Housing
  • Transaction Amount: $37,500,000
  • Loan Type: Refinancing Loan
  • Loan Terms: Non-recourse, fixed-rate loan, five years, inclusive of extension options

The loan was facilitated by Joel Mendes and Jason Skalko from JLL Capital Markets, who provided their expertise in securing the non-recourse loan. The terms of the loan, which include a fixed-rate and a five-year duration with extension options, provide financial stability for the property's ownership. The refinancing loan amount of $37,500,000 contributes to the ongoing success of the senior housing facility.

Players

Joel Mendes
JLL
Joel Mendes
4 deals$102M volume
BROKER
Jason Skalko
Cushman & Wakefield
Jason Skalko
3 deals$77.5M volume(813) 867-2389
BROKER
MM
Partners
Madison Marquette
8 deals$369.5M volume
LANDLORD
MM
Madison Marquette
8 deals$369.5M volume
LANDLORD
MM
Madison Marquette
8 deals$369.5M volume
LANDLORD

Details

FINANCED
IMAGE: Joel Mendes & Jason Skalko DATE: 01/05/2022 ADDRESS: 6421 McKinney Ranch Pkwy MARKET: McKinney ASSET TYPE: Senior Housing ~ UNITS: 194 LANDLORD: CREC Real Estate & Madison Marquette BROKERS: Joel Mendes & Jason Skalko - JLL Capital Markets LOAN AMOUNT: $37,500,000 LOAN TYPE: Refinancing Loan LOAN TERMS: non-recourse, fixed-rate loan, five years, inclusive of extension options.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,500,000.00

Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00