Gantry Secures $11.9M Construction Loan For Luxury Townhomes In Tucson, AZ
1855 West River Road Tucson, Arizona 85704, USA
$11,900,000
Building Size
—
Asset Type
Single Family Residence
Closing
Jun 29, 2023
AI
Gantry has secured an $11.9 million construction loan for the development of 46 luxury townhomes located at 1855 West River Road in Tucson, Arizona.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $11,900,000
- Address: 1855 West River Road
- Market: Tucson, AZ
- Broker: Tim Storey - Gantry
- Loan Type: Construction
This loan will be used to finance the construction of the 46 luxury townhomes, adding to the increasing inventory of high-end residential properties in Tucson. Tim Storey from Gantry represented the borrower in securing this construction loan.
Players
Tucson Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93