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
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