Jamie Mullin & Brandon Brown Of Marcus & Millichap Capital Corporation Secure $56.2M Acquisition Loan For Cypress Multifamily
11111 Grant Road, Cypress, Texas 77429, United States
$56,200,000
$148/SF
Building Size
378,646 SF
Asset Type
MultiFamily
Closing
Mar 29, 2022
AI
A multifamily property located at 11111 Grant Road in Cypress has been involved in a closed transaction. The property consists of 422 units and is situated in the Cypress market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,200,000
- Loan Amount: $56,200,000
- Loan Type: Acquisition Loan
- Loan Terms: five-year bridge loan with a 75% LTV and an interest rate of 3.85%
The transaction was facilitated by Jamie Mullin and Brandon Brown from Marcus & Millichap Capital Corporation (MMCC). They represented the parties involved in the deal.
Players
Cypress MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93