Trez Capital Provides $29.4M Construction Loan For Rio Rancho Development Site
2300 Westside Boulevard Southeast
$29,400,000
Units
126
Asset Type
Development Site
Closing
May 30, 2024
AI
The loan amount of $29.4 million has been provided by Trez Capital for the construction of Eleanor Rio Rancho Cabezon, a 126-unit built-to-rent development located at 2300 Westside Blvd. SE in Rio Rancho, N.M.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,400,000
- Market: Rio Rancho, NM
- Units: 126
- Lender: Trez Capital
- Landlord: JLM Living
- Loan Type: Construction
Trez Capital, the lender, has extended financing for the construction project led by JLM Living, to develop Eleanor Rio Rancho Cabezon in Rio Rancho, NM.
Players
Rio Rancho 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93