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Goldman Sachs Alternatives Provides $44.6 Million Loan For Grand Prairie Development Site
FINANCED
$44,600,000
+ 2
Texas
See Similar DealsDevelopment Site
Financed
FINANCED
Goldman Sachs Alternatives Provides $44.6 Million Loan For Grand Prairie Development Site
3850 Double Oak Avenue
See Similar DealsDevelopment Site
Financed
+ 2
Summary
TEXAS
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 3850 Double Oak Avenue in Grand Prairie. The property is planned for the construction of a 255-unit Class A apartment development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $44,600,000
- Loan Type: Construction
- Loan Terms: Floating-rate
- Lender: Goldman Sachs Alternatives
- Landlord: StoneHawk Capital Partners
- Brokers: Walker Layne, Stephen West, Matthew Wallach, Austin Sneed & Tyler Evenson - Walker & Dunlop
Walker & Dunlop was responsible for arranging the financing for the project on behalf of StoneHawk Capital Partners, facilitating the floating-rate construction loan provided by Goldman Sachs Alternatives.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,600,000.00
Monthly NOI$297,333.33
Monthly Debt Service$281,902.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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