Vibrant Cities Secures $42M Construction Loan For Multifamily Development On N. Williams Ave
FINANCED
$42,000,000
Oregon
See Similar DealsMultiFamily66,378 SF
Financed 09/24/2021
FINANCED
Vibrant Cities Secures $42M Construction Loan For Multifamily Development On N. Williams Ave
3185 N Williams Ave, Portland, OR, USA
See Similar DealsMultiFamily66,378 SF
Financed 09/24/2021
Summary
OREGON
Asset Type:MultiFamily
Price Per Square Foot:$632
Total Square Footage:66,378 SF
Transaction Type:Loan
Located at 3185 N. Williams Ave. in Portland, Oregon, this multifamily property spans over 66,378 square feet and consists of 215 units. The property, owned by Vibrant Cities, is part of a closed transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,000,000
- Loan Type: Construction
- Loan Terms: Non-recourse, 85 LTC
Builders Capital served as the lender in this transaction. Cameron Huard from WelcomeLend represented the landlord, Vibrant Cities, in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,000,000.00
Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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