Midtown Square
A retail property in Troy, Michigan. Securitized in 1 CMBS deal in 2022.
$127.8MAppraised value (latest deal)
99.4%Occupancy
$7.5MUnderwritten NOI
5.8%Implied cap rate
- Address
- 1237 Coolidge Highway, Troy, MI 48084
- Property type
- Retail · Anchored
- Year built
- 2000
- Size
- 580,251 SF
- Sponsor
- Grand Sakwa Properties LLC
- Loan purpose
- Refinance
- Largest tenant
- Home Depot
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| MSC 2022-L8 | 2022-04-07 | $127.8M | 99.4% | $7.5M | 5.8% | $30.4M | 62.9% | 1.55x | 424B |
Historical NOI reported in MSC 2022-L8
| Period ending | NOI |
|---|---|
| 12/31/2021 | $8.4M |
| 12/31/2020 | $7.3M |
| 12/31/2019 | $7.7M |
More CMBS properties in Michigan →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.