Lightstone Capital Provides $28.5M Bridge Loan For Multifamily Property In Dallas
FINANCED
$28,500,000
Texas
See Similar DealsMultiFamily256,584 SF
Financed 12/06/2022
FINANCED
Lightstone Capital Provides $28.5M Bridge Loan For Multifamily Property In Dallas
10928 Audelia Road
See Similar DealsMultiFamily256,584 SF
Financed 12/06/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$111
Total Square Footage:256,584 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 10928 Audelia Creek Blvd in Dallas, TX. The asset features a total square footage of 256,584 and comprises 362 units, demonstrating its significant scale within the Dallas market.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $28,500,000
- Loan Type: Bridge
- Lender: Lightstone Capital
- Brokers: Dan Sacks, Thomas Wayda & Harrison Drucker - Greystone
Key individuals involved in this transaction include Dan Sacks, Thomas Wayda, and Harrison Drucker, who represented the brokerage Greystone in securing the loan for the property. Their involvement was crucial in facilitating the bridge loan provided by Lightstone Capital for this deal.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,500,000.00
Monthly NOI$190,000.00
Monthly Debt Service$180,139.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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