The trust secured a $10,117,000 fixed-rate loan at 5.13% for a 10-year term, resulting in an initial DSCR of 3.38x and an LTV of 47.21%. Prepayment penalty expires starting on the last calendar day of the fourth month prior to maturity.
Leverage profile
Loan amount$10.12M89.4% of offering · 47.21% LTV
Offering equity$1.19M10.6% of offering
Loan Amount
$10,117,000
Term
10 year Loan term
Interest Rate
5.13%
Fixed / Variable
Fixed
Prepayment Penalty
No prepayment premium will be payable with respect to any prepayment made on or after the last calendar day of the fourth (4th) month prior to the month in which the Maturity Date occurs
DSCR
3.38x
Acquisition LTV
47.21%
Offering LTV
47.21%
Strengths
- 10-year fixed-rate financing at 5.13%
- High DSCR of 3.38x provides significant debt service cushion
- Prepayment flexibility within four months of maturity
Concerns
- Refinancing fee of 1% of principal balance upon loan replacement
- $339,319 in finance-related expenses paid upfront