Builders Capital Provides $39.8M Construction Loan For Multifamily Property In Phoenix, AZ
FINANCED
$39,835,000
National
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FINANCED
Builders Capital Provides $39.8M Construction Loan For Multifamily Property In Phoenix, AZ
SEC of Highway 238 and North Loma Rd
See Similar DealsFinanced
Summary
Transaction Type:Loan
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
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,835,000.00
Monthly NOI$265,566.67
Monthly Debt Service$251,784.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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