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Kevin Gould Of Colliers Mortgage Secures $55.9M Loan For Millennium Crest's Multifamily Project In Denton
FINANCED
$55,900,000
Texas
See Similar DealsDevelopment Site
Financed 05/09/2025
FINANCED
Kevin Gould Of Colliers Mortgage Secures $55.9M Loan For Millennium Crest's Multifamily Project In Denton
6651 South Interstate 35e
See Similar DealsDevelopment Site
Financed 05/09/2025
Summary
TEXAS
Asset Type:Development Site
Transaction Type:Loan
The asset involved is a development site located at 6651 I35 E in Denton, TX. The property is under a loan agreement for the amount of $55,900,000, with a loan term structured for 40 years along with an amortization schedule.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,900,000
- Lender: Kevin Gould - Colliers Mortgage
- Landlord: Millennium Crest LP
- Market: Denton
- Loan Terms: 40-year term and amortization schedule
This transaction was arranged by Kevin Gould representing Colliers Mortgage on behalf of Millennium Crest LP, the developer associated with a 245-unit multifamily project in the market of Denton, TX.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,900,000.00
Monthly NOI$372,666.67
Monthly Debt Service$353,326.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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