Mag Mile Capital Secures $8 Million Bank Syndication Financing for Manufactured Home Park in Boardman, OR
Mag Mile Capital (OTCQB: MMCP) has successfully secured an $8 million bank syndication program financing for a manufactured home park development in Boardman, Oregon. The loan features a 65% loan-to-cost ratio with a five-year term, including an initial 18-month interest-only period during development, followed by a 25-year amortization schedule.
The transaction, which closed on February 3, 2025, was led by CEO Rushi Shah and SVP of Underwriting and Originations Prabhat Jayara. The financing structure demonstrates Mag Mile Capital's expertise in securing optimal financing solutions for commercial real estate investments, particularly in non-traditional asset classes and non-primary markets.
Mag Mile Capital (OTCQB: MMCP) ha ottenuto con successo un finanziamento di 8 milioni di dollari attraverso un programma di sindacazione bancaria per lo sviluppo di un parco di case prefabbricate a Boardman, Oregon. Il prestito presenta un rapporto prestito-costo del 65% con una durata di cinque anni, compresa un'iniziale fase di solo interessi di 18 mesi durante lo sviluppo, seguita da un piano di ammortamento di 25 anni.
La transazione, conclusa il 3 febbraio 2025, è stata guidata dal CEO Rushi Shah e dal SVP di Underwriting e Originations Prabhat Jayara. La struttura di finanziamento dimostra l'esperienza di Mag Mile Capital nell'ottenere soluzioni di finanziamento ottimali per gli investimenti immobiliari commerciali, in particolare in classi di attivi non tradizionali e mercati non primari.
Mag Mile Capital (OTCQB: MMCP) ha asegurado con éxito un financiamiento de $8 millones a través de un programa de sindicación bancaria para el desarrollo de un parque de casas prefabricadas en Boardman, Oregón. El préstamo cuenta con una relación préstamo-costo del 65% con un plazo de cinco años, que incluye un período inicial de 18 meses solo de interés durante el desarrollo, seguido de un calendario de amortización de 25 años.
La transacción, que se cerró el 3 de febrero de 2025, fue liderada por el CEO Rushi Shah y el SVP de Subordinación y Originaciones Prabhat Jayara. La estructura de financiación demuestra la experiencia de Mag Mile Capital en asegurar soluciones de financiamiento óptimas para inversiones en bienes raíces comerciales, particularmente en clases de activos no tradicionales y mercados no primarios.
Mag Mile Capital (OTCQB: MMCP)는 오레곤 주 보드맨에 위치한 제조 주택 공원 개발을 위한 800만 달러 은행 신디케이션 프로그램 금융을 성공적으로 확보했습니다. 이 대출은 5년 기간의 65% 대출 대 비용 비율을 특징으로 하며, 개발 중에는 초기 18개월 동안 이자만 지불한 뒤 25년 동안 상환 계획이 포함됩니다.
2025년 2월 3일에 완료된 이 거래는 CEO 루시 샤(Rushi Shah)와 신용 심사 및 출처 담당 수석 부사장 프라바트 자야라(Prabhat Jayara)가 이끌었습니다. 이 금융 구조는 비전통적인 자산 클래스와 비주류 시장에 대한 상업용 부동산 투자에 대한 최적의 금융 솔루션 확보에 있어 Mag Mile Capital의 전문성을 보여줍니다.
Mag Mile Capital (OTCQB: MMCP) a réussi à sécuriser un financement de 8 millions de dollars au travers d'un programme de syndication bancaire pour le développement d'un parc de maisons manufacturées à Boardman, Oregon. Le prêt présente un ratio de 65 % entre le montant du prêt et le coût, avec une durée de cinq ans, incluant une période initiale de 18 mois de remboursement d'intérêts uniquement pendant le développement, suivie d'un plan d'amortissement de 25 ans.
La transaction, qui s'est clôturée le 3 février 2025, a été menée par le PDG Rushi Shah et le SVP des souscriptions et des origines Prabhat Jayara. La structure de financement démontre l'expertise de Mag Mile Capital dans l'obtention de solutions de financement optimales pour les investissements immobiliers commerciaux, en particulier dans des classes d'actifs non traditionnelles et des marchés non principaux.
Mag Mile Capital (OTCQB: MMCP) hat erfolgreich ein Finanzierungsprogramm mit einer Bankensyndikatsfinanzierung in Höhe von 8 Millionen USD für die Entwicklung eines Mobilheimparks in Boardman, Oregon, gesichert. Das Darlehen weist ein Verhältnis von 65 % zwischen Darlehens- und Kostenaufwand auf und hat eine Laufzeit von fünf Jahren, die eine anfängliche 18-monatige Zinszahlungsphase während der Entwicklung umfasst, gefolgt von einem 25-jährigen Tilgungsplan.
Die Transaktion, die am 3. Februar 2025 abgeschlossen wurde, wurde von CEO Rushi Shah und dem SVP für Underwriting und Originierung Prabhat Jayara geleitet. Die Finanzierungsstruktur zeigt die Expertise von Mag Mile Capital bei der Sicherstellung optimaler Finanzierungslösungen für gewerbliche Immobilieninvestitionen, insbesondere in nicht-traditionellen Anlageklassen und Sekundärmärkten.
- Secured $8 million in bank syndication financing
- Favorable loan terms with 18-month interest-only period
- 65% loan-to-cost ratio indicating strong leverage position
- Successfully expanded into manufactured housing sector
- None.
Chicago, Illinois, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful closing of an
The successful execution of this deal underscores Mag Mile Capital’s deep expertise in structuring and securing optimal financing solutions for investors and developers across all commercial real estate asset classes.
“This transaction highlights our ability to deliver tailored financing solutions for manufactured housing communities,” said Rushi Shah, Chairman and CEO of Mag Mile Capital. “We are proud to have structured a financing solution that aligns with the client’s investment strategy and enhances their portfolio’s growth potential.”
“This closing was unique and special because it highlights Mag Mile Capital’s access to diverse capital sources and our ability to find a needle in a haystack in form the lender” said Prabhat Jayara, Senior Vice President of Originations and Underwriting of Mag Mile Capital. “The capital source for this transaction is a non-traditional bank syndication program suited for this non-traditional asset class in a non-primary market.”
The deal successfully closed on February 3, 2025, marking another milestone for Mag Mile Capital in delivering innovative capital stacks for real estate investors nationwide.
Mag Mile Capital: Manufactured Home Park
Location: Boardman, Oregon
Financing type: Bank Syndication Program financing for the purpose of horizontal development and construction of mobile home park facility.
Loan Amount:
LTC:
Loan Term: 5 Years
Amortization: 18 months interest-only period, then 25 years amortization schedule
Closing Date: 02/03/2025
Originators: Rushi Shah & Prabhat Jayara
For the latest details on Mag Mile Capital investments, follow them on social media: Facebook, X, LinkedIn, Instagram.
About Mag Mile Capital – Turning Relationships into Closings Since 1991
Mag Mile Capital is a boutique full-service commercial real estate mortgage banking firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas, and Nevada. Mag Mile Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes. The firm offers preferred access nationwide to high-leverage, non-recourse, commercial real estate bridge loans and permanent mortgages with cash out financing for hotels, self-storage, multifamily, industrial, retail, office, and other commercial real estate property, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, Mag Mile Capital leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary. Its personnel have collectively closed over
For the latest details on Mag Mile Capital investments, visit our website at: www.magmilecapital.com and follow us on social media: Facebook, Twitter, LinkedIn, Instagram.
Forward-Looking Statements
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. The forward-looking statements in this press release include statements regarding the benefit of qualifying our common shares for trading on the OTCQB market. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its quarterly report on Form 10-Q for the fiscal period ended September 30, 2024. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For further information contact:
Tony Sklar
Investor Relations
Tel: 1.312.642.0100
ir@magmilecapital.com
www.magmilecapital.com
FAQ
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