Updated Dec 4, 2024
John Killough & John Roberts Provide $16.8M Construction Loan For Dallas Development Site
9220 Ferguson Road
$16,800,000
Units
164
Asset Type
Development Site
Closing
Jan 25, 2024
About this deal
AI
The Estates at Ferguson, a 164-unit affordable seniors housing project in Dallas, has secured a $16.8 million construction loan from Bellwether Enterprise Real Estate Capital. The loan, provided by John Killough and John Roberts of Bellwether Enterprise Real Estate Capital, is a Freddie Mac financing with a 15-year term and a fixed interest rate. The majority of units in the project are reserved for low-income renters, providing much-needed affordable housing for seniors in Dallas.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $16,800,000
- Loan Type: Construction Loan
- Loan Terms: 15-year term and a fixed interest rate
- Lender: John Killough & John Roberts - Bellwether Enterprise Real Estate Capital
Bellwether Enterprise Real Estate Capital, represented by John Killough and John Roberts, played a crucial role in facilitating the financing for the Estates at Ferguson project. With their expertise and connections, they were able to secure the necessary funds to support the development of this much-needed affordable housing project for seniors in Dallas.
On the Map
$16,800,000
Development Site
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Dallas Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93