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Walker & Dunlop Secures $62M Loan For Multifamily Development In Columbia
FINANCED
$62,000,000
+ 1
South Carolina
See Similar DealsMultiFamily
Financed 05/07/2024
FINANCED
Walker & Dunlop Secures $62M Loan For Multifamily Development In Columbia
112 Council Loop
See Similar DealsMultiFamily
Financed 05/07/2024
+ 1
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan
The $62 million financing secured by Walker & Dunlop is for the construction of Burnside Farms Apartments, a 308-unit multifamily development located at 112 Council Loop in Columbia, SC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $62,000,000
- Units: 308
- Landlord: South Coast Property Investments & Abacus Capital
- Brokers: Cliff Ayers, Jamie Butler, Jason McFadden & Michael Bowles - Walker & Dunlop
Cliff Ayers, Jamie Butler, Jason McFadden, and Michael Bowles from Walker & Dunlop were the brokers who facilitated the $62 million construction loan for the Burnside Farms Apartments project in Columbia, SC.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,000,000.00
Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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