Updated Dec 4, 2024
Berkadia Provides $72.85M Loan For Bozeman Development Site
2900 South 21st Avenue
$72,850,000
Building Size
—
Asset Type
Development Site
Closing
Sep 19, 2023
About this deal
AI
A development site located at 2900 South 21st Avenue in Bozeman, Montana, has secured financing through a $72.85 million loan provided by Berkadia. The loan terms are set for 40 years.
Summary of transaction details:
- Property Type: Development Site
- Loan Amount: $72,850,000
- Loan Terms: 40-year terms
- Lender: Berkadia
- Landlord: Bill Daugherty & Bill Barr - BlackRidge Co
- Market: Bozeman, MT
Berkadia, acting as the lender, has provided $72.85 million in financing for the construction of the second phase of the 19th and Graf Apartment Homes in Bozeman, Montana. The financing is made possible through the U.S. Department of Housing and Urban Development's 221(d)(4) program.
Players
Bozeman Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93