Artemis Real Estate Partners, MorningStar Senior Living & American Capital Group Secure $40M Loan For 152-Unit Senior Housing In Kirkland, WA
FINANCED
$40,000,000
Washington
See Similar DealsOther
Financed 06/09/2022
FINANCED
Artemis Real Estate Partners, MorningStar Senior Living & American Capital Group Secure $40M Loan For 152-Unit Senior Housing In Kirkland, WA
11729 Northeast 118th Street, Kirkland, Washington 98034, United States
See Similar DealsOther
Financed 06/09/2022
Summary
WASHINGTON
Asset Type:Other
Transaction Type:Loan
The senior housing property located at 11729 NE 118th St in Kirkland, WA has recently been involved in a loan transaction. The property, which covers an area of 3.6 acres, consists of 152 units. The loan, amounting to $40,000,000, is a nonrecourse, floating-rate loan with full-term interest-only payments.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $40,000,000
- Address: 11729 NE 118th St
- Market: Kirkland, WA
- Units: 152
- Acres: 3.6
The deal was facilitated by the following individuals and companies: Aron Will and Tim Root from CBRE represented the landlords, which include Artemis Real Estate Partners, MorningStar Senior Living, and American Capital Group.
Players
LANDLORD
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$40,000,000.00
Monthly NOI$266,666.67
Monthly Debt Service$252,827.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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