Madison Realty Capital Provides $278.5M Construction Loan For Austin Mixed-Use & Condo Portfolio
EastVillage, East Parmer Lane, Austin, TX, USA
$278,500,000
Units
117
Asset Type
Mixed-use
Closing
Jun 8, 2020
About this deal
AI
Madison Realty Capital has provided a construction loan worth $278,500,000 for four assets located in Austin, Texas. The portfolio includes the EastVillage, a 425-acre master-planned residential community with plans to develop 1,264 multifamily residential units, and The Linden Residences, a 117-unit condominium building.
Summary of transaction details:
- Property Type: Mixed-Use & Condo
- Transaction Amount: $278,500,000
- Address: EastVillage & The Linden Residences, Austin, Texas
- Market: Austin, Texas
- Lender: Madison Realty Capital
- Landlord: Reger Holdings
The loan provided by Madison Realty Capital will support the development and construction of these assets in Austin. This financing demonstrates the confidence of the lender in the growth prospects of both the EastVillage residential community and The Linden Residences condominium building.
Players
Austin Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93