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Stuart Oswald Secures $35M Refinance For Senior Housing In Gig Harbor, WA
FINANCED
$35,000,000
Washington
See Similar DealsSenior Housing
Financed 04/17/2024
FINANCED
Stuart Oswald Secures $35M Refinance For Senior Housing In Gig Harbor, WA
7083 Wagner Way
See Similar DealsSenior Housing
Financed 04/17/2024
Summary
WASHINGTON
Asset Type:Senior Housing
Transaction Type:Loan
The Lodge at Mallard’s Landing, a 147-unit senior living community located at 7083 Wagner Way in Gig Harbor, WA, has recently undergone a significant financial transaction. Stuart Oswald of Northmarq successfully secured a $35 million refinance for this senior housing asset.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $35,000,000
- Units: 147
- Market: Gig Harbor, WA
- BROKER: Stuart Oswald - NorthMarq
- Loan Type: Refinance
- Loan Terms: Six-year, fixed-rate loan
Stuart Oswald, representing Northmarq, played a crucial role in facilitating the $35 million refinance for The Lodge at Mallard’s Landing in Gig Harbor. The senior living community, managed by Senior Services of America, now benefits from improved financial terms secured through this successful transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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