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BWE Secures $42.5 Million Loan For Affordable Housing Developments In Atlanta South Carolina Texas
FINANCED
$42,502,000
Georgia
See Similar DealsDevelopment Site
Financed 08/27/2024
FINANCED
BWE Secures $42.5 Million Loan For Affordable Housing Developments In Atlanta South Carolina Texas
Development Site
Financed 08/27/2024
Summary
Asset Type:Development Site
Transaction Type:Loan
The transaction involves a development site located in the markets of Atlanta, GA; Lexington, SC; and Fort Worth, TX. A total loan amount of $42,502,000 has been secured for projects focused on affordable housing, including developments such as The Simpson, Peaks of Lexington, and Heights at Crowley.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $42,502,000
- Lender: BWE
- Loan Terms: 15-year, fixed-rate loan and 40-year amortization
- Brokers: John Roberts & Jon Killough - Bellwether Enterprise (BWE)
The financing secured by BWE aims to address critical housing shortages in Georgia, South Carolina, and Texas. The properties involved will include a mix of affordable units and various amenities, contributing to the region's housing needs.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,502,000.00
Monthly NOI$283,346.67
Monthly Debt Service$268,641.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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