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JLL Secures $12.7M Construction Loan For Waldo District Multifamily Development
FINANCED
$12,700,000
Missouri
See Similar DealsDevelopment Site
Financed 07/01/2024
FINANCED
JLL Secures $12.7M Construction Loan For Waldo District Multifamily Development
7421 North Broadway Avenue
See Similar DealsDevelopment Site
Financed 07/01/2024
Summary
MISSOURI
Asset Type:Development Site
Transaction Type:Loan
The development site located at 7421 North Broadway Avenue in Kansas City, MO, was the subject of a recent transaction involving an equity investment of $12.7 million. The asset, a new 283-unit Class A multifamily community in Kansas City's Waldo neighborhood, was acquired through a construction loan for the Waldo District project.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $12,700,000
- Landlord: EPC Real Estate Group
- Broker: Mark Erland - JLL
- Loan Type: Construction
JLL played a crucial role in facilitating the $12.7 million equity investment for the Waldo District project. The landlord, EPC Real Estate Group, and the broker, Mark Erland from JLL, oversaw the successful transaction, ensuring the development of the 283-unit multifamily community in the vibrant Waldo neighborhood of Kansas City.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,700,000.00
Monthly NOI$84,666.67
Monthly Debt Service$80,272.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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