Lynd Living Secures $41.2M Bridge Loan For 250-Unit Multifamily Property In Austin With Greystone
FINANCED
$41,200,000
Texas
See Similar DealsMultiFamily250 SF
Financed 08/05/2020
FINANCED
Lynd Living Secures $41.2M Bridge Loan For 250-Unit Multifamily Property In Austin With Greystone
10015 Lake Creek Pkwy, Austin, TX 78729, USA
See Similar DealsMultiFamily250 SF
Financed 08/05/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$164,800
Total Square Footage:250 SF
Transaction Type:Loan
Lynd Living has secured a $41.2 million bridge loan for the acquisition of a multifamily property located at 10015 Lake Creek Pkwy in Austin. The property, consisting of 250 units, is situated in a prime location within the Austin market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $41,200,000
- Address: 10015 Lake Creek Pkwy
- Market: Austin
- Units: 250
The borrower in this transaction is Lynd Living, represented by A. David Lynd. The lender is greystone''>Greystone, represented by Steven Vainer. The loan has a 36-month term with two 1-year extension options, providing flexibility for the borrower.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$41,200,000.00
Monthly NOI$274,666.67
Monthly Debt Service$260,412.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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