Deal Summary
INSIGNIA arranged $802,500 of bank acquisition financing for a 13-unit multifamily property in Chicago, Illinois, equal to 73.0% of the $1,100,000 purchase price.
| Item | Detail |
|---|---|
| Transaction type | Acquisition |
| Property | 13-unit multifamily, built 1922 |
| Location | Chicago, Illinois 60649 |
| Purchase price | $1,100,000 ($84,615 per unit) |
| Total financing | $802,500 |
| Loan to purchase price | 73.0% |
| Term | 3 years |
| Capital source | Bank |
The Transaction
The borrower acquired a 13-unit multifamily building in Chicago for $1,100,000. INSIGNIA arranged the acquisition financing through a bank: an $802,500 loan with a 3-year term and a 25-year amortization schedule, with the remaining balance due at maturity.
Capital Structure
| Item | Detail |
|---|---|
| Loan amount | $802,500 |
| Structure | Amortizing, balloon at maturity |
| Term | 3 years |
| Amortization | 25 years |
| Capital source | Bank |
INSIGNIA
INSIGNIA arranged the financing, including structuring the request, selecting the capital source and coordinating the process through closing. Small multifamily acquisitions are a core part of our practice, and we place them with the lender that fits the borrower and the asset.
This summary describes a closed transaction for informational purposes and is not an offer of financing or a statement of current pricing, which varies with market conditions, property type, sponsor credit and program requirements.
