Updated Oct 28, 2024
Lynd Living Secures $41.2M Bridge Loan For 250-Unit Multifamily Property In Austin With Greystone
10015 Lake Creek Pkwy, Austin, TX 78729, USA
$41,200,000
$164,800/SF
Building Size
250 SF
Asset Type
MultiFamily
Closing
Aug 5, 2020
About this deal
AI
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.
Austin MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93