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Vitus Group LLC Secures $117.3M Loan From Regions Bank To Acquire Jackson Trio Multifamily Communities
FINANCED
$117,300,000
Mississippi
See Similar DealsMultiFamily
Financed 08/01/2025
FINANCED
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
See Similar DealsMultiFamily
Financed 08/01/2025
Summary
MISSISSIPPI
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$117,300,000.00
Monthly NOI$782,000.00
Monthly Debt Service$741,415.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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