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TDK Cos Secures $63.9 Million FHA Loan For The Reserve At Johnson City Multifamily Development
FINANCED
$63,900,000
Tennessee
See Similar DealsMultiFamily
Financed 01/16/2025
FINANCED
TDK Cos Secures $63.9 Million FHA Loan For The Reserve At Johnson City Multifamily Development
1084 West Oakland Avenue
See Similar DealsMultiFamily
Financed 01/16/2025
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in this transaction is a 288-unit multifamily apartment development located at 1084 West Oakland Avenue in Johnson City, TN, encompassing an area of 14.4 acres. The transaction includes a loan amounting to $63,900,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $63,900,000
- Units: 288
- Acres: 14.4
- Landlord: TDK Cos
- Brokers: David Strange & Keith Melton - Walker & Dunlop
- Market: Johnson City, TN
- Loan Date: 01/16/2025
The transaction was facilitated by Walker & Dunlop, who originated the $63.9 million FHA loan specifically for The Reserve at Johnson City. The brokers involved in this transaction are David Strange and Keith Melton, representing Walker & Dunlop in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,900,000.00
Monthly NOI$426,000.00
Monthly Debt Service$403,891.47
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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