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801 Locust Place Northeast ...

Texas Capital Partners Refinances Multifamily Property In Albuquerque For $45.5M
FINANCEDMultiFamily

Texas Capital Partners Refinances Multifamily Property In Albuquerque For $45.5M

801 Locust Place Northeast Albuquerque, New Mexico 87102, USA

$45,500,000

Building Size

Asset Type

MultiFamily

Closing

May 8, 2023

AI

The multifamily property located at 801 Locust Place NE in Albuquerque, NM has recently undergone a loan refinance transaction. The property consists of 572 units and is owned by Texas Capital Partners. The loan amount for the refinance is $45,500,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $45,500,000
  • Units: 572
  • Address: 801 Locust Place NE, Albuquerque, NM
  • Market: Albuquerque, NM

The loan refinance transaction for the multifamily property at 801 Locust Place NE was facilitated by Gantry, with Adam Parker and Chad Metzger representing the buyer in this deal.

Players

Chad Metzger

Broker

$186.7M

vol

10 deals

Broker

Albuquerque MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93