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7526 Mcdowell Way

Updated Aug 27, 2026

FINANCEDDevelopment Site

Wells Fargo And Freddie Mac Provide $38.9M Loan For Ekos At Bayonet Point II Development

7526 Mcdowell Way

$38,900,000

Building Size

Asset Type

Development Site

Closing

Aug 25, 2026

About this deal

AI

The asset involved in this transaction is a development site located at 7526 Mcdowell Way in Hudson, FL. The property is part of an affordable housing project called Ekos at Bayonet Point II, which will consist of 120 apartments and has secured a loan amount of $38,900,000 for its construction. The project is expected to be completed by spring 2028.

Summary of transaction details:

This transaction involved McDowell Housing Partners, which is led by W. Patrick McDowell and Christopher Shear. The financing structure includes tax-credit equity and senior construction financing provided by Wells Fargo, while Freddie Mac will be responsible for the permanent financing of the five-story development.

Players

Freddie Mac
Freddie MacLender

W. Patrick McDowell

McDowell Housing Partners

Landlord

$219.8M

vol

6 deals

Landlord

Way 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

0.41%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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