KPC Group & Todd Harmon Secure $18.4M Loan For Temple Medical Facility
Temple, Texas, United States
$18,420,000
Building Size
—
Asset Type
Other
Closing
May 5, 2022
About this deal
AI
The medical facility located in Temple was recently involved in a closed transaction. The property was owned by KPC Group and Todd Harmon. The deal was facilitated by Kevan McCormack from Marcus & Millichap Capital Corp. This acquisition and conversion financing deal secured a non-recourse loan of $18,420,000.
Summary of transaction details
- Property Type: Medical Facility
- Transaction Amount: $18,420,000
- Market: Temple
- Landlord: KPC Group & Todd Harmon
- Broker: Kevan McCormack - Marcus & Millichap Capital Corp.
- Loan Type: Acquisition & Conversion Financing
- Loan Terms: Non-recourse loan
This transaction saw the involvement of Kevan McCormack from Marcus & Millichap Capital Corp. as the broker representing the buyer or seller in the deal. This loan provides the necessary financing for the acquisition and conversion of the medical facility.
Players
Temple Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93