Debt financing totals $33,405,000 at a 44.39% LTV, featuring a 10-year term, 8 years of interest-only payments, and a fixed interest rate of 5.04%. Initial DSCR is underwritten at 2.1x.
Leverage profile
Loan amount$33.41M44.4% of offering · 44.39% LTV
Offering equity$41.85M55.6% of offering
Loan Amount
—
Term
10-year, 8 years interest-only
Interest Rate
5.04%
Fixed / Variable
Fixed
Prepayment Penalty
—
DSCR
2.1x
Acquisition LTV
44.39%
Offering LTV
44.39%
Strengths
- Fixed 5.04% interest rate for 10 years
- 8 years of interest-only payments
- Robust initial DSCR of 2.1x
Concerns
- Amortization commences after Year 8
- 1.00% fee on future refinancing