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Toll Brothers Inc & Willton Investment Management Secure $86M Construction Loan For Phoenix Multifamily
FINANCED
$86,000,000
Arizona
See Similar DealsMultiFamily
Financed 11/09/2023
FINANCED
Toll Brothers Inc & Willton Investment Management Secure $86M Construction Loan For Phoenix Multifamily
24255 North 19th Avenue
See Similar DealsMultiFamily
Financed 11/09/2023
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 24255 North 19th Avenue in Phoenix, AZ was involved in a closed transaction. The deal involved a construction loan with a loan amount of $86,000,000. The property is owned by Douglas C. Yearley, Jr. of Toll Brothers Inc and Chris Luo of Willton Investment Management.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $86,000,000
- Lender: Santander Bank & Alerus Financial Corp
- Landlord: Douglas C. Yearley, Jr. - Toll Brothers Inc & Chris Luo - Willton Investment Management
The lenders involved in the loan deal were Santander Bank and Alerus Financial Corp. The property owners, Douglas C. Yearley, Jr. and Chris Luo, were represented by Toll Brothers Inc and Willton Investment Management, respectively.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$86,000,000.00
Monthly NOI$573,333.33
Monthly Debt Service$543,578.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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