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Pearlmark Secures $7M Mezzanine Loan For The Ruby At Brookfield Square
FINANCED
$7,000,000
Wisconsin
See Similar DealsMultiFamily
Financed 05/29/2024
FINANCED
Pearlmark Secures $7M Mezzanine Loan For The Ruby At Brookfield Square
365 South Moorland Road
See Similar DealsMultiFamily
Financed 05/29/2024
Summary
WISCONSIN
Asset Type:MultiFamily
Transaction Type:Loan
The Ruby at Brookfield Square is a 231-unit apartment complex located at 365 South Moorland Road in Brookfield, WI. The property was refinanced with a $7 million mezzanine loan provided by Värde Partners for landlord Mark Witt of Pearlmark.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Units: 231
- Lender: Värde Partners
- Landlord: Mark Witt - Pearlmark
- Loan Type: Mezzanine
- Market: Brookfield, WI
- Address: 365 South Moorland Road
Pearlmark successfully secured the $7 million mezzanine loan for the refinancing of The Ruby at Brookfield Square. The loan was crucial for maintaining the financial stability of the 231-unit apartment complex nestled within the mixed-use development of Brookfield Square.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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