Updated Jun 5, 2025
Creekstone Companies Secures $22.3 Million Construction Loan For Development Site In Spring
6130 Auburn Lakes Drive
$22,300,000
$159/SF
Building Size
139,952 SF
Asset Type
Development Site
Closing
May 14, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 6130 Auburn Lakes Drive in Spring, encompassing a square footage of 139,952. The loan amount for this transaction is $22,300,000, utilized for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,300,000
- Lender: Jonathan Lewis - JLJ Capital
- Landlord: Creekstone Companies
- Sponsor: Creekstone and AOG Living
- Loan Type: Construction
Key individuals in this transaction include Jonathan Lewis, serving as the lender, and the partnership of Creekstone Companies and AOG Living as the sponsors. Their roles contribute to the financial structuring and development potential of the site.
On the Map
$22,300,000
$159/SF
Development Site
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Players
Spring Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93