Builders Capital Provides $39.8M Construction Loan For Multifamily Property In Phoenix, AZ
SEC of Highway 238 and North Loma Rd
$39,835,000
Units
183
Asset Type
—
Closing
Jun 2, 2022
About this deal
AI
An 183-unit multifamily property located at the SEC of Highway 238 & North Loma Rd in Phoenix, AZ has been involved in a recent closed transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $39,835,000
- Loan Type: Construction
- Loan Terms: 80% LTC Non-recourse construction loan
The loan for this transaction was provided by Builders Capital, with Rich D'Agostino representing the lender. The loan amount totaled $39,835,000 and was a construction loan with non-recourse terms. The property's landlord is Matrix Equities.
Representing the deal as the broker is Mike Guterman from Highland Realty Capital.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93