The property operates as a 255-unit multifamily community with an acquisition cap rate of 5.28% and projected Year 1 investor income of 4.36%. Full-term projected average distribution is 4.95%.
Ongoing fee rates
Asset Mgmt Fee (annual)
Asset
Management Fee $0
Disposition Fee
$4,227,685
Refinancing Fee
A
of fee equal to 1.00% of the principal amount of the new loan
Trust Administration
DST
Admin, Accounting & Investor Services $27,500
Strengths
- Strong debt coverage with 1.89x DSCR
- Initial distribution starts at 4.36% in Year 1
Concerns
- Full-term average yield of 4.95% is below the debt interest rate of 5.02%