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Red Rock would like to purchase an office building at the price of $ 3 6 . 8 million. The building has a cap rate
Red Rock would like to purchase an office building at the price of $ million. The building has a cap rate of
To finance the purchase, Red Rock approaches Sitea bank for a mortgage.
Sitea bank offers a mortgage with a year balloon and year term at the interest rate of pa compounded monthly.
Sitea requires LTV to be less than and DSCR to be at least
Red Rock needs to contribute at least $ million of equity for the purchase.
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