S3 Capital Partners Provides $29.75 Million Construction Loan For Multifamily Asset In Travelers Rest SC
FINANCED
$29,750,000
South Carolina
See Similar DealsMultiFamily170,066 SF
Financed
FINANCED
S3 Capital Partners Provides $29.75 Million Construction Loan For Multifamily Asset In Travelers Rest SC
MultiFamily170,066 SF
Financed
Summary
Asset Type:MultiFamily
Price Per Square Foot:$174
Total Square Footage:170,066 SF
Transaction Type:Loan
The property involved in the transaction is a multifamily asset located in Travelers Rest, SC, specifically within the Greenville Submarket. The asset comprises 170,066 square feet across 152 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,750,000
- Loan Type: Construction
- Lender: Robert Schwarz & Steven Jemal - S3 Capital Partners
The deal included key individuals Robert Schwarz and Steven Jemal, who acted as lenders through their company S3 Capital Partners, providing financing for the construction of the multifamily asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,750,000.00
Monthly NOI$198,333.33
Monthly Debt Service$188,040.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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