The trust secured $47,189,000 in fixed-rate debt for a 10-year term at a 5.3% interest rate, resulting in an offering LTV of 50.55% and an acquisition LTV of 57.9%.
Leverage profile
Loan amount$47.19M102.2% of offering · 57.9% LTV
Loan Amount
$47,189,000
Term
10 YEARS
Interest Rate
5.3%
Fixed / Variable
Fixed
Prepayment Penalty
—
DSCR
—
Acquisition LTV
57.9%
Offering LTV
50.55%
Strengths
- 10-year fixed rate structure eliminates floating rate risk
- Moderate offering LTV of 50.55%
Concerns
- Interest rate of 5.3% exceeds the 4.7% acquisition cap rate
- Financing expenses totaled $3,204,567