Updated Jan 29, 2025
Louis Lebovits Of BridgeCity Capital Provides $83.2M Construction Loan For Monroe Multifamily Project
$83,200,000
$148/SF
Building Size
561,670 SF
Asset Type
MultiFamily
Closing
Jan 21, 2025
About this deal
AI
The asset is a multifamily property located at Acres Road in Monroe, featuring a total square footage of 561,670 and consisting of 256 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $83,200,000
- Loan Amount: $83,200,000
- Loan Type: Construction
- Loan Terms: 24 months + extension options
- LTC: 74%
- Lender: Louis Lebovits - BridgeCity Capital
Louis Lebovits represents BridgeCity Capital, which is actively financing various projects including mixed-use, residential, industrial, and construction in the Tri-State Area, South Florida, and other states. Loan inquiries can be directed to Louis at [email protected].
Players
Market 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93