facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Multifamily

/

Loan

/

1234 Templecliff Drive

Red Oak Capital Holdings Grants $2.3M Bridge Loan For Templecliff Apartments In Dallas
FINANCEDMultiFamily

Red Oak Capital Holdings Grants $2.3M Bridge Loan For Templecliff Apartments In Dallas

1234 Templecliff Drive

$2,300,000

$106/SF

Building Size

21,630 SF

Asset Type

MultiFamily

Closing

Aug 16, 2023

AI

The owner of Templecliff Apartments in Southeast Dallas has secured a $2.3 million bridge loan from Red Oak Capital Holdings. The loan will be used for a capital improvement program aimed at enhancing the property's value and market appeal. The multifamily property spans over 21,630 square feet and sits on a 1.2-acre lot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,300,000
  • Address: 1234 Templecliff Drive, Dallas
  • Market: Dallas
  • Loan Type: Bridge Loan
  • Loan Terms: note rate of 10.00 percent and a 12-month term with two six-month renewal options

Red Oak Capital Holdings, represented by Gary Bechtel and Nick Jans, acted as the lender in this transaction. Their expertise and financial support have allowed the borrower to pursue their capital improvement plans. The bridge loan presents an opportunity for the owner to enhance the property's value and attract a wider range of potential tenants.

Players

Gary Bechtel

Red Oak Capital Holdings

Lender

$48.9M

vol

9 deals

Lender
Red Oak Capital Holdings
Red Oak Capital HoldingsLender

Market 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93