An industrial property’s first year annual NOI is projected to be $777,000, the property’s acquisition cap rate is 7.0%, and the lender’s maximum LTV is 70% of the purchase price. What is the maximum loan amount that can be borrowed against the property? Group of answer choices $11,100,000 $7,770,000 $3,330,000 $15,857,143

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An industrial property’s first year annual NOI is projected to be $777,000, the property’s acquisition cap rate is 7.0%, and the lender’s maximum LTV is 70% of the purchase price. What is the maximum loan amount that can be borrowed against the property?
Group of answer choices
$11,100,000
$7,770,000
$3,330,000
$15,857,143
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