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Assume a retail shopping center can be purchased for $8.5 million. The centers first year NOI is expected to be $589,500. A $5,000,000 loan has
Assume a retail shopping center can be purchased for $8.5 million. The centers first year NOI is expected to be $589,500. A $5,000,000 loan has been requested. The loan carries a 6.4 percent fixed contract rate, amortized monthly over 30 years with a 7-year term. What will be the propertys (annual) debt coverage ratio in the first year of operations?
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