Updated Mar 11, 2025
TCY Secures $42.25M Bridge Loan For Multifamily Property In Jackson, MS
759 Glencross Drive
$42,250,000
$85/SF
Building Size
495,850 SF
Asset Type
MultiFamily
Closing
Aug 24, 2022
About this deal
AI
The multifamily property located at 759 Glencross Dr. in Jackson, MS has been involved in a closed transaction. This property spans approximately 495,850 square feet and consists of 440 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $42,250,000
- Address: 759 Glencross Dr., Jackson, MS
- Market: Jackson, MS
- Lender: Aaron Krawitz - Bravo Bridge Fund
- Landlord: TCY
- Loan Type: Bridge
- Loan Terms: Bridge Acquisition
In this transaction, the lender, Aaron Krawitz, represented Bravo Bridge Fund. The landlord of the property is TCY. The loan amount for this transaction was $42,250,000, and it was a bridge loan for the purpose of acquisition.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93