Updated Aug 7, 2025
Vitus Group LLC Secures $117.3M Loan From Regions Bank To Acquire Jackson Trio Multifamily Communities
3930 Skyview Drive, 550 Houston Avenue & 386 Raymond Road
$117,300,000
Units
613
Asset Type
MultiFamily
Closing
Aug 1, 2025
About this deal
AI
The transaction involves a multifamily asset consisting of 613 units, located at 3930 Skyview Drive, 550 Houston Avenue, and 386 Raymond Road in Jackson, MS. The acquisition loan amounts to $117,300,000, provided by Regions Bank to facilitate the purchase and rehabilitation of the properties, which are now branded as Jackson Trio.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $117,300,000
- Lender: Regions Bank
- Landlord: Vitus Group LLC
- Loan Type: Acquisition
- Units: 613
- Market: Jackson, MS
The financing deal highlights the role of Regions Bank's affordable housing group in supporting Vitus Group LLC for the project, focusing on enhancing affordable housing options in the Jackson area.
On the Map
$117,300,000
MultiFamily
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Players
Jackson 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93