Updated Dec 4, 2024
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
About this deal
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.
On the Map
$29,400,000
Development Site
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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