Daily limit: 0/10
The 702 LLC Secures $6.9M Loan From Amalgamated Bank For Development Site In Houston
FINANCED
$6,900,000
Texas
See Similar DealsDevelopment Site74,091 SF
Financed 08/22/2025
FINANCED
The 702 LLC Secures $6.9M Loan From Amalgamated Bank For Development Site In Houston
702 North Sam Houston Parkway East
See Similar DealsDevelopment Site74,091 SF
Financed 08/22/2025
Summary
TEXAS
Asset Type:Development Site
Price Per Square Foot:$93
Total Square Footage:74,091 SF
Transaction Type:Loan
The property involved in this transaction is a development site located at 702 North Sam Houston Parkway East in Houston. The site spans 74,091 square feet and is poised for conversion from a former 250-key hotel into 137 workforce housing units. The project will incorporate energy upgrades, projected to significantly reduce utility costs over 25 years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,900,000
- Address: 702 North Sam Houston Parkway East
- Market: Houston
- Lender: Amalgamated Bank
- Landlord: The 702 LLC
- C-PACE Loan Amount: $4,000,000
This transaction involves Mark Boyer from Imperial Ridge Real Estate Capital representing Amalgamated Bank in the financing deal. The financing provided by Amalgamated Bank and Imperial Ridge Real Estate Capital aims to support the $9.2 million project, which will enhance the property’s energy efficiency through various upgrades.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,900,000.00
Monthly NOI$46,000.00
Monthly Debt Service$43,612.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions