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610 South 44th Street West,...

Dwight Capital Provides $37.7M Construction Financing For Multifamily Project In Billings, MT
FINANCEDMultiFamily

Dwight Capital Provides $37.7M Construction Financing For Multifamily Project In Billings, MT

610 South 44th Street West, Billings, Montana 59106, United States

$37,700,000

Building Size

Asset Type

MultiFamily

Closing

Oct 12, 2022

AI

The property involved in this closed transaction is a multifamily asset located at 610 South 44th Street West in Billings, MT. The property, owned by Stock Development, was the subject of a construction financing deal.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $37,700,000
  • Lender: Dwight Capital - Brandon Baksh
  • Landlord: Stock Development
  • Loan Type: Construction financing

Brandon Baksh from Dwight Capital served as the lender's representative in the deal. The construction financing loan with an amount of $37,700,000 was facilitated by Dwight Capital. The landlord, Stock Development, secured the necessary funding for the project.

Players

Dwight Capital
Dwight CapitalLender

Billings MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93