Harbor Group International Provides $14.4M Bridge Loan For Multifamily Property In Irving
FINANCED
$14,440,000
+ 1
Texas
See Similar DealsMultiFamily133,996 SF
Financed 06/09/2020
FINANCED
Harbor Group International Provides $14.4M Bridge Loan For Multifamily Property In Irving
1216 North Britain Road, Irving, TX 75061, USA
See Similar DealsMultiFamily133,996 SF
Financed 06/09/2020
+ 1
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$107
Total Square Footage:133,996 SF
Transaction Type:Loan
1216 N Britain Rd in Irving has been the subject of a recent closed property transaction. This multifamily property, located in the market of Irving, has attracted attention in the real estate industry.
Summary of transaction details:
- Property Type: Multifamily
- Address: 1216 N Britain Rd
- Market: Irving
The loan for this transaction was provided by Harbor Group International. The borrower, Raj Guntnur, secured a bridge loan with a value of $14,440,000. The loan terms stipulated an 80% LTC (Loan-to-Cost) ratio.
Facilitating this transaction were brokers John Brickson from Old Capital, Pete Hartnett, and Matt Waskow from Rowan Multifamily Advisors. They worked tirelessly to ensure a successful deal for their respective clients.
This closed property transaction showcases the active real estate market in Irving and the demand for multifamily properties. With the involvement of reputable lenders and experienced brokers, this deal highlights the confidence in the market and the valuable investment opportunities it presents.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,440,000.00
Monthly NOI$96,266.67
Monthly Debt Service$91,270.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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