Updated Jul 15, 2025
Continental Properties Secures $46.6M Refinance Loan For 316-unit Springs At Bettendorf From Dwight Capital
3939 53rd Avenue
$46,600,000
Units
316
Asset Type
MultiFamily
Closing
Jul 14, 2025
About this deal
AI
The asset involved in this transaction is the Springs at Bettendorf, a multifamily property located at 3939 53rd Avenue in Bettendorf, IA, featuring 316 units. A refinance loan of $46,600,000 was secured by the landlord, Continental Properties, to support this transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,600,000
- Lender: Dwight Capital
- Landlord: Continental Properties
- Loan Type: Refinance
- Date: 07/14/2025
This transaction involved Continental Properties securing HUD-backed debt from Dwight Capital, which facilitated the refinancing of the multifamily asset in Iowa, underscoring the ongoing investment in residential housing in the market.
On the Map
$46,600,000
MultiFamily
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Players
Bettendorf MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93