Updated Mar 11, 2025
Pearlmark Secures $7M Mezzanine Loan For The Ruby At Brookfield Square
365 South Moorland Road
$7,000,000
Units
231
Asset Type
MultiFamily
Closing
May 29, 2024
About this deal
AI
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.
On the Map
$7,000,000
MultiFamily
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Brookfield MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93