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Sunny Bathija Of Satya Inc Secures $255M Construction Loan From International Bank Of Commerce For Houston Development
FINANCED
$255,000,000
Texas
See Similar DealsDevelopment Site
Financed 07/31/2025
FINANCED
Sunny Bathija Of Satya Inc Secures $255M Construction Loan From International Bank Of Commerce For Houston Development
102 Asbury Street
See Similar DealsDevelopment Site
Financed 07/31/2025
Summary
TEXAS
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 102 Asbury Street in Houston, encompassing 4 acres. The property is intended for a construction project, specifically The St. Regis Residences, which is a 38-story luxury condo tower featuring 90 units. The project holds significance as Texas' first all-residential St. Regis-branded development, with unit prices starting at $3 million.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $255,000,000
- Lender: International Bank of Commerce (IBC)
- Landlord: Sunny Bathija - Satya Inc
- Units: 90
- Groundbreaking: Planned for this year
- Percentage Reserved: 40%
Key individuals in this transaction include Sunny Bathija, who represents Satya Inc. in securing the construction loan from International Bank of Commerce. This financing will support the development of a high-end residential project in the Houston market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$255,000,000.00
Monthly NOI$1,700,000.00
Monthly Debt Service$1,611,773.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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