Trailbreak Partners Secures $24.26M Construction Loan For 124-Unit Multifamily In Denver
FINANCED
$24,260,000
Colorado
See Similar DealsMultiFamily
Financed 01/11/2023
FINANCED
Trailbreak Partners Secures $24.26M Construction Loan For 124-Unit Multifamily In Denver
3245 Eliot Street, Denver, Colorado 80211, United States
See Similar DealsMultiFamily
Financed 01/11/2023
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Loan
Trailbreak Partners has secured a construction loan worth $24,260,000 from FirstBank for a multifamily property located at 3245 N Eliot St in Denver, CO. The property consists of 124 units and is expected to undergo construction and development with the help of the loan. Rob Bova from JLL represented Trailbreak Partners in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,260,000
- Units: 124
- Lender: FirstBank
- Landlord: Trailbreak Partners
- Broker: Rob Bova - JLL
- Loan Type: Construction
The loan from FirstBank will support the construction of the multifamily property located at 3245 N Eliot St in Denver, CO. This loan will enable Trailbreak Partners to develop the property and provide 124 new units in the market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,260,000.00
Monthly NOI$161,733.33
Monthly Debt Service$153,339.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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