Lynd Company Secures $32.3M Loan For Valley Multifamily From Lument
FINANCED
$32,299,999
Alabama
See Similar DealsMultiFamily
FINANCED
Lynd Company Secures $32.3M Loan For Valley Multifamily From Lument
21899 Valley Ranch Crossing Dr, Port...
See Similar DealsMultiFamily
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Loan
The Villas at Valley Ranch is a 312-unit apartment community in Porter, Texas. Lument has provided a $32.3 million bridge loan for the acquisition of this property. The units consist of one- and two-bedroom floor plans, and the community amenities include a pool, clubhouse, fitness center, conference room, and a theater room.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $32,299,999.00
- Address: 21899 Valley Ranch Crossing Dr, Porter, Texas
- Market: Valley
- Lender's Rep: Managing Director (Lument)
- Borrower: Lynd Company
Marc Suarez of Lument led the transaction on behalf of the borrower, San Antonio-based investment firm LYND Co. The loan carried a fixed interest rate with a three-year term. A portion of the loan proceeds will be utilized by LYND Co. for capital improvements.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,299,999.00
Monthly NOI$215,333.33
Monthly Debt Service$204,157.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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