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BMC Capital Secures $24 Million Bridge Loan For Bridgewater Apartments In Tomball Texas
FINANCED
$24,000,000
Texas
See Similar DealsMultiFamily
Financed 06/19/2025
FINANCED
BMC Capital Secures $24 Million Bridge Loan For Bridgewater Apartments In Tomball Texas
1100 Graham Drive
See Similar DealsMultiFamily
Financed 06/19/2025
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in the transaction is Bridgewater Apartments, a multifamily property located at 1100 Graham Drive in Tomball, Texas. The property consists of 206 units and was built in 1978. The total loan amount secured for this asset is $24,000,000, with the financing structured as a bridge loan for a term of two years, featuring interest-only payments.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $24,000,000
- Loan Type: Bridge
- Units: 206
- Address: 1100 Graham Drive
- Market: Tomball
- Brokerage Firm: BMC Capital
- Brokers: Grant Garlock & Noah Laredo
BMC Capital facilitated the financing details of the transaction through an undisclosed life insurance company. The specifics regarding the borrower involved in the loan arrangement are also undisclosed, providing a focused glimpse into the transaction dynamics without additional context on the parties involved.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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