MetLife Provides $42M Refinance Loan For Schenk Realty's 264-Unit Student Housing In San Marcos
FINANCED
$42,000,000
Texas
See Similar DealsFinanced 09/13/2022
FINANCED
MetLife Provides $42M Refinance Loan For Schenk Realty's 264-Unit Student Housing In San Marcos
140 West San Antonio Street, San Marcos, Texas 78666, United States
See Similar DealsFinanced 09/13/2022
Summary
TEXAS
Transaction Type:Loan
Located at 140 West San Antonio Street in San Marcos, this property is a student housing asset with a total of 264 units. It was recently involved in a closed transaction.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $42,000,000
- Loan Type: Refinance
- Loan Terms: Five-year, fixed-rate
- Lender: MetLife
- Landlord: Schenk Realty
- Broker: Steve Skok - Berkadia
Steve Skok from Berkadia represented the buyer in this transaction. The loan was provided by MetLife for the amount of $42,000,000. This refinance loan has a five-year term and a fixed interest rate.
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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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