Bones Investment Group Secures $34.3 Million Bridge Loan From The Ardent Companies
11446 Mckendree Road
$34,300,000
Building Size
—
Asset Type
Development Site
Closing
Jun 5, 2025
AI
The property involved in this transaction is a development site located at 11446 McKendree Road in the San Antonio market. The asset has a building square footage of 1,100,000 and is associated with a loan amount of $34,300,000 structured as a bridge loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $34,300,000
- Asset Address: 11446 McKendree Road
- Market: San Antonio
- Building Square Footage: 1,100,000
- Lender: The Ardent Companies
- Landlord: Bones Investment Group
- Broker Representatives: Spencer Miller, Aj Felberbaum, Jay Miller, Noah Rothman & Daniel O'Mahony - BayBridge Real Estate Capital
This transaction involves key individuals including the lender, The Ardent Companies, and the landlord, Bones Investment Group. The brokers representing the deal are Spencer Miller, Aj Felberbaum, Jay Miller, Noah Rothman, and Daniel O'Mahony from BayBridge Real Estate Capital, each playing a significant role in facilitating this financing arrangement.
Players
San Antonio Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93