Jamie Mullin & Brandon Brown Of Marcus & Millichap Capital Corporation Secure $56.2M Acquisition Loan For Cypress Multifamily
FINANCED
$56,200,000
Texas
See Similar DealsMultiFamily378,646 SF
Financed 03/30/2022
FINANCED
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
See Similar DealsMultiFamily378,646 SF
Financed 03/30/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$148
Total Square Footage:378,646 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$56,200,000.00
Monthly NOI$374,666.67
Monthly Debt Service$355,222.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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