Meridian Capital Group Refinances Dental Offices In Michigan, Pennsylvania, Texas, Florida, Alabama, And South Carolina For $20M
$20,000,000
Building Size
—
Asset Type
Office
Closing
Jul 26, 2023
About this deal
AI
A $20,000,000 loan is set to be refinanced for dental offices in Michigan, Pennsylvania, Texas, Florida, Alabama, and South Carolina. The landlord, Florida Value Partners, is working with brokers Jacob Petrovic, Morris Betesh, and Alex Bailkin from Meridian Capital Group to facilitate the transaction.
Summary of transaction details
- Property Type: Dental Offices
- Loan Amount: $20,000,000
- Loan Type: Refinance
- Landlord: Florida Value Partners
- Brokers: Jacob Petrovic, Morris Betesh, Alex Bailkin - Meridian Capital Group
The loan will provide the necessary funding to refinance dental offices across multiple states, including Michigan, Pennsylvania, Texas, Florida, Alabama, and South Carolina. Florida Value Partners, the landlord, has enlisted the expertise of Jacob Petrovic, Morris Betesh, and Alex Bailkin from Meridian Capital Group to assist in securing the loan.
Players
Market Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93