The Bluth Co., owner of the Balboa Towers Phase II, has secured a $50.0M, 10Y, 65% LTV

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Question:

The Bluth Co., owner of the Balboa Towers Phase II, has secured a $50.0M, 10Y, 65% LTV mortgage that carries a 3.75% coupon. The debt is interest only for the first 5 years of the term. The in-place NCF for Balboa Towers Phase II is $4.750M. Note: Convert annual to monthly for amortization calculations