Commercial Mortgage Loan Closings
FOREST HILLS APARTMENTS
Debt Service Coverage Ratio (DCR)
The ration of earnings (through rents received) to debt service on a commercial real estate loan or mortgage loan.
STEELHEAD CAPITAL, INC. PROVIDES $13.160MM DOLLAR LOAN FOR FOREST HILLS IN EUGENE, OR.
Seattle, WA - January 15, 2004
Steelhead Capital, Inc. closed a $13,160,000 refinance of Forest Hills located in Eugene, OR through one of its correspondent relationships on January 15, 2004. The loan was a 7-year fixed with interest only for the first three years, at a 5.05% rate amortized over 30-years. The loan to value ratio was 80% with a debt service coverage of 1.32x.
The 248-unit class B property was built in 1997. The property provides a variety of innovative layouts and amenities for the seeking renter. The transaction closed at 91% occupancy.
Steelhead Capital is a premier provider of creative financing solutions for commercial real estate loans. Steelhead Capital brings an extensive network of loan sources, structured finance experience with a focus on commercial real estate acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's corporate offices are located in San Francisco, CA.
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