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MSD Capital Provides $500M Recapitalization Loan For Mixed-Use Property In Austin

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FINANCED
$500,000,000

Texas

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Mixed-use
Financed 01/12/2022
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FINANCED

MSD Capital Provides $500M Recapitalization Loan For Mixed-Use Property In Austin

1009 South Congress Avenue, Austin, Texas 78704, United States

See Similar Deals
Mixed-use
Financed 01/12/2022
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Mixed-use
Transaction Type:Loan

The mixed-use property located at 1009-1011 South Congress Avenue in Austin was recently involved in a closed transaction. The property spans approximately 2 acres and is situated in the bustling market of Austin.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $500,000,000
  • Date: 01/12/2022
  • Lender: MSD Capital
  • Landlord: Turnbridge Equities - Andrew Joblon

The deal involved a recapitalization loan of $500,000,000. The loan was secured from MSD Capital, providing the necessary funds to support the transaction. Turnbridge Equities, represented by Andrew Joblon, acted as the landlord in this transaction.

Details

FINANCED
IMAGE: Andrew Joblon DATE: 01/12/2022 ADDRESS: 1009-1011 South Congress Avenue MARKET: Austin ASSET TYPE: Mixed-use ~ ACRES: 2 LENDER: MSD Capital LANDLORD: Turnbridge Equities - Andrew Joblon LOAN AMOUNT: $500,000,000 LOAN TYPE: Recapitalization

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$500,000,000.00

Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00