MSD Partners Provides $130M Construction Loan For Austin Condo Development
84 East Avenue, Austin, TX, USA
$130,000,000
$27,542/SF
Building Size
4,720 SF
Asset Type
—
Closing
Nov 19, 2021
About this deal
AI
The property involved in this transaction is a condo located at 84 E. Ave in Austin, comprising 284 units. The loan amount is $130,000,000, classified as a construction loan.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $130,000,000
- Market: Austin
- Lender: MSD Partners
- Lender's Representative: Gregg Lemkau
- Landlord: Pearlstone Partners and ATCO Properties & Management
This deal involves key participants including MSD Partners, the lender represented by Gregg Lemkau, and the landlords Pearlstone Partners alongside ATCO Properties & Management, indicating a collaborative effort in facilitating the construction financing for this property.
Players
Austin CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93