Updated May 12, 2025
House Investments Secures $21M Loan For Multifamily Property In Evansville, IND
200 North Main Street, Evansville, Indiana, USA
$21,000,000
$1,400/SF
Building Size
15,000 SF
Asset Type
MultiFamily
Closing
Mar 31, 2021
About this deal
AI
The property asset involved is a multifamily unit located at 200 N. Main Street, in the Evansville, IND market. The asset consists of 180 units and includes 15,000 square feet of commercial space. The loan amount secured for this transaction is $21,000,000, which encompasses a three-year construction loan combined with an equity bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Address: 200 N. Main Street
- Market: Evansville, IND
- Units: 180
- Square Footage: 15,000 (Commercial Space)
- Lender: Merchants Capital - Michael Dury
- Landlord: House Investments
Key individuals in this deal include Michael Dury representing Merchants Capital as the lender. The involvement of House Investments as the landlord provides essential context regarding the ownership structure associated with the property.
Players
Evansville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Indiana multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93