The trust secured a $25,300,000 fixed-rate loan with a 10-year term. Leverage is 47.5% LTV with an initial debt service coverage ratio of 2.02x.
Leverage profile
Loan amount$25.30M47.5% of offering · 47.5% LTV
Offering equity$27.93M52.5% of offering
Loan Amount
$25,300,000
Term
10 years
Interest Rate
—
Fixed / Variable
Fixed
Prepayment Penalty
—
DSCR
2.02x
Acquisition LTV
47.5%
Offering LTV
47.5%
Strengths
- Conservative 47.5% offering LTV
- 10-year fixed-rate financing structure
- Robust initial DSCR of 2.02x
Concerns
- Refinancing fee of 2.5% on future debt transactions
- Financing expenses and carry costs total $997,581 and $558,581 respectively