Updated Dec 4, 2024
Sheridan Capital Provides $9M Bridge Loan For Multifamily Property In Beaumont
125 Interstate 10, Beaumont, TX, USA
$9,000,000
$53/SF
Building Size
168,784 SF
Asset Type
MultiFamily
Closing
Jul 19, 2020
About this deal
AI
Joe Fishman has shared an Instagram post showcasing a closed property transaction in Beaumont. The property, located at 125 Interstate Highway 10 North, is a multifamily asset.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
The loan for this transaction was provided by Sheridan Capital. Acting as the broker for this deal was Joe Fishman, representing FM Capital.
This successful transaction involved a $9,000,000 bridge loan. The property, situated in Beaumont, attracted the attention of Sheridan Capital, who facilitated the loan. Joe Fishman, from FM Capital, played a crucial role as the broker in this deal.
Players
Beaumont 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93