Updated Oct 28, 2024
Dwight Capital Provides $37.2M Bridge Loan For Houston Multifamily Acquisition
11810 Algonquin Drive, Houston, TX 77089
$37,200,000
Units
460
Asset Type
MultiFamily
Closing
Dec 29, 2021
About this deal
AI
Located at 11810 Algonquin Dr in Houston, this multifamily property consists of 460 units. The asset, owned by Bodka Creek Capital, recently underwent a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,200,000
- Market: Houston
- Lender: Dwight Capital - Adam Sasouness
- Landlord: Bodka Creek Capital
- Loan Type: Bridge Loan
The lender for this transaction was Dwight Capital, represented by Adam Sasouness. They provided a bridge loan worth $37,200,000 for the acquisition of the property by Bodka Creek Capital. The deal was successfully closed on 12/29/2021.
Players
Houston 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93