Debt consists of a $73,424,000 fixed-rate loan at 5% interest with a 10-year term, 7 years of interest-only, and 30-year amortization. The loan profile reflects a 40.99% LTV and an initial 1.9x DSCR.
Leverage profile
Loan amount$73.42M41.0% of offering · 40.99% LTV
Offering equity$105.70M59.0% of offering
Loan Amount
—
Term
10-year term 30-year amortization 7 years interest-only
Interest Rate
5%
Fixed / Variable
Fixed
Prepayment Penalty
—
DSCR
DSCR 1.9x 1.9x 1.9x 1.9x 1.9x 2.0x 2.1x 1.8x 1.9x 1.9x
Acquisition LTV
40.99%
Offering LTV
40.99%
Strengths
- 10-year term with fixed 5% interest rate
- 7 years of interest-only debt service
- Healthy initial DSCR of 1.9x
Concerns
- Principal amortization begins in Year 8
- 1.00% refinancing fee applicable on future debt