facebook
Traded Co logo
Submit
Daily limit: 0/10

SPI Advisory Secures $49M Loan For Ascent North Multifamily In Austin

Property Image
FINANCED
$49,000,000

Texas

See Similar Deals
MultiFamily
Financed 03/05/2024
the dealplayerscompscontact
Property Image
FINANCED

SPI Advisory Secures $49M Loan For Ascent North Multifamily In Austin

12001 Dessau Road

See Similar Deals
MultiFamily
Financed 03/05/2024
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

The Ascent North, a 460-unit apartment complex located at 12001 Dessau Road in North Austin, Texas, recently underwent renovations and offers various amenities. SPI Advisory secured a $49 million Fannie Mae financing for the property, with Colliers Mortgage providing a five-year loan for the multifamily asset.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $49,000,000
  • Units: 460
  • Lender: Colliers Mortgage
  • Landlord: Michael Becker - SPI Advisory
  • Loan Type: Refinance
  • Loan Terms: Five-year

The loan for Ascent North in Austin was secured through $49 million in Fannie Mae financing with support from Colliers Mortgage. The property, after recent renovations, stands as a significant multifamily asset in North Austin. Michael Becker from SPI Advisory represented the landlord in the deal.

Players

Colliers Mortgage
Colliers Mortgage
LENDER

Details

FINANCED
IMAGE: Michael Becker DATE: 03/05/2024 ADDRESS: 12001 Dessau Road MARKET: Austin ASSET TYPE: Multifamily ~ UNITS: 460 LENDER: Colliers Mortgage LANDLORD: Michael Becker - SPI Advisory (@SPIAdvisory) LOAN AMOUNT: $49,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year NOTE: SPI Advisory secured $49 million in Fannie Mae financing for Ascent North, a 460-unit apartment complex in North Austin, Texas. Colliers Mortgage provided the five-year loan for the property located at 12001 Dessau Road, which recently underwent renovations and offers various amenities.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$49,000,000.00

Monthly NOI$326,666.67
Monthly Debt Service$309,713.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00