Parkway Bank & Trust Provides $33.33M Construction Loan For Mesa Multifamily Development
East Southern Avenue and South Crismon Road, Mesa, Arizona 85208, United States
$33,330,000
Units
156
Asset Type
MultiFamily
Closing
Nov 10, 2022
AI
The multifamily property located at E Southern Ave & S Crismon Rd in Mesa, AZ was involved in a loan transaction on October 25, 2022. The property consists of 156 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $33,330,000
- Address: E Southern Ave & S Crismon Rd, Mesa, AZ
- Market: Mesa, AZ
- Lender: Parkway Bank & Trust
- Broker: Northmarq
- Loan Type: Construction
The lender for this transaction was Parkway Bank & Trust, and the broker involved was Northmarq. The loan amount for the construction project was $33,330,000.
Players
Mesa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93