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Icon Realty Capital Provides $7.7M Acquisition & Construction Loan For Topeka Multifamily

Property Image
FINANCED
$7,702,948

Kansas

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MultiFamily143,255 SF
Financed 06/30/2022
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Property Image
FINANCED

Icon Realty Capital Provides $7.7M Acquisition & Construction Loan For Topeka Multifamily

3733 Southwest Plaza Drive, Topeka, Kansas 66609, United States

See Similar Deals
MultiFamily143,255 SF
Financed 06/30/2022
the dealplayerscompscontact
Contact now

Summary

KANSAS
Asset Type:MultiFamily
Price Per Square Foot:$53
Total Square Footage:143,255 SF
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 3733 SW Plaza Drive in Topeka, KS. It has a total square footage of 143,255 and consists of 144 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,702,948
  • Address: 3733 SW Plaza Drive, Topeka, KS
  • Market: Topeka, KS
  • Loan Type: Acquisition & Construction

Icon Realty Capital, represented by Jon Cruz, provided the loan for this transaction. The loan amount was $7,702,948. Icon Realty Capital is known for its creative real estate financing solutions and its commitment to meeting borrowers' needs even in challenging market conditions.

Note: Where Other Lenders See Obstacles, Icon Sees Opportunities! Due to the current state of affairs in the financial markets, many lenders have made the decision to go on pause until the current level of volatility dies down. However, Icon Realty Capital refuses to sit on the sidelines and wait for things to happen, we make things happen! Icon has made a name for itself as being the Leader In Creative Real Estate Capital, and we will continue to raise our bar of performance to meet our borrowers needs. We remain Well-Capitalized, Actively Lended Throughout the Pandemic, and will Continue to Lend through any trying times that may lie ahead.

Players

Icon Realty Capital
Icon Realty Capital
LENDER
Icon Realty Capital
Icon Realty Capital
LENDER

Details

FINANCED
IMAGE: Jon Cruz DATE: 06/30/2022 ADDRESS: 3733 SW Plaza Drive MARKET: Topeka, KS ASSET TYPE: Multifamily ~ SF: 143,255 ~ UNITS: 144 LENDER: Icon Realty Capital (@IconRealtyCapital) - Jon Cruz (@Cruz_Control._) LOAN AMOUNT: $7,702,948 LOAN TYPE: Acquisition & Construction NOTE FROM LENDER: Where Other Lenders See Obstacles, Icon Sees Opportunities! Due to the current state of affairs in the financial markets, many lenders have made the decision to go on pause until the current level of volatility dies down. However, Icon Realty Capital refuses to sit on the sidelines and wait for things to happen, we make things happen! Icon has made a name for itself as being the Leader In Creative Real Estate Capital, and we will continue to raise our bar of performance to meet our borrowers needs.  We remain Well-Capitalized, Actively Lended Throughout the Pandemic, and will Continue to Lend  through any trying times that may lie ahead.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,702,948.00

Monthly NOI$51,352.99
Monthly Debt Service$48,687.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00