MSD Partners Provides $130M Construction Loan For Austin Condo Development
FINANCED
$130,000,000
Texas
See Similar Deals4,720 SF
Financed 11/19/2021
FINANCED
MSD Partners Provides $130M Construction Loan For Austin Condo Development
84 East Avenue, Austin, TX, USA
See Similar Deals4,720 SF
Financed 11/19/2021
Summary
TEXAS
Price Per Square Foot:$27,542
Total Square Footage:4,720 SF
Transaction Type:Loan
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
BROKERAGE
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$130,000,000.00
Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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